Epistar Corp (晶元光電), the nation’s largest maker of light-emitting diodes (LEDs), announced yesterday it signed an agreement with Nan Ya Photonics Inc (南亞光電) covering technology and investment cooperation.
Nan Ya Photonics is a LED manufacturing unit of Formosa Plastics Group (FPG, 台塑集團), Taiwan’s largest diversified industrial company.
In a filing to the stock exchange yesterday, Epistar said it planned to initially invest NT$1 billion (US$31.1 million) to participate in Nan Ya Photonics’ recapitalization scheme.
Epistar will make further investments in accordance with the terms of the agreement and Nan Ya Photonics’ recapitalization schedule, the filing said.
“The strategic cooperation is aimed at sharing resources, helping enhance operational efficiency and boosting shareholders’ interests,” the filing said.
The partnership will also help the two companies to increase production capacity and reduces costs through joint efforts in research and development, it said.
The companies also plan to hold stakes in each other, but they declined to elaborate on the size of the investment or stake.
The two companies planned to take 50 percent stake in each other to ensure sustainable technology and patent support, the Central News Agency reported yesterday, citing Epistar vice president Rider Chang (張世賢).
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