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IRICO to invest 51 million yuan in OLED production line

Post Time:Jan 04,2009Classify:Company NewsView:361

IRICO announced on December 31, 2008 that the company would cooperate with Shenzhen Hongyang Industrial Trade Company to set up an OLED production line in Shunde District, Foshan City, Guangdong Province. The project has an investment capital at CNY 100 million, 51% of which is invested by IRICO and the rest of which is promoted by Shenzhen Hongyang.

The joint company will mainly engage in R & D, production and sales of OLED.

The first phase of the project is evaluated to cost an investment of CNY 255 million, including CNY 229.13 million of fixed assets and CNY 25.73 million yuan of circulating fund. For about 1year, the production line will be completed and put into production for 12 million pieces of OLED panels (22-inch) to make the company the leading maker of OLED in China.

Source: GlassInChinaAuthor: shangyi

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