Date: 28 December 2007
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.
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Tradingmarkets.com
2007-12-28T12:00:00
Asahi Glass, Mitsubishi to sell stakes in LCD panel JV
glassonweb.com
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