Asahi Glass, Mitsubishi to sell stakes in LCD panel JV

THE ASAHI GLASS CO. and the MITSUBISHI ELECTRIC CORP. (TSE:6503) said Tuesday that they will sell their stakes in struggling LCD panel joint venture OPTREX CORP. to an investment fund for a total of Y10 million ($US87,438.71). * In February, Optrex will increase its capital by issuing 8 billion yen in new shares to Asahi Glass and Mitsubishi Electric, which then will sell the joint venture to JAPAN INDUSTRIAL PARTNERS INC.

Asahi Glass owns a 60 per cent stake in Optrex and Mitsubishi Electric the remaining 40 per cent.

* Established in 1976, Optrex produces small and midsize LCD panels, but its market share is just 1 per cent or so.

600450 Asahi Glass, Mitsubishi to sell stakes in LCD panel JV glassonweb.com
Date: 28 December 2007
Source: Tradingmarkets.com

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