Top Engineering, LCD and the Light-Emitting Diode (LED) equipment maker, announced it will co-invest $20 million with Power Logics, a subsidiary, in Yangzhou, China, to build local production facility.
Top Engineering also adds this China investment fund will be covered with its own working capital and investment funds from Power Logics.
Production facilities will be erected with plan to begin operate later this year, and will produce main LCD equipment, GCS (Glass Cutting System), and key LED equipment MOCVD.
Power Logics will expand component production, such as protection circuit and power management for Notebook, Smartphone, etc, in conjunction with the existing production facilities in China. As it expands, it is expected to respond more proactively to customer demand.
Won-Nam Kim, the president of Top Engineering, said, "The technology of Glass Cutting System, new LCD equipment, has been validated and MOCVD, key LED equipment, also completed development. This investment was carried out to make a base for oversea market and to expand the production capacity of Power Logics." He also adds, "We will preempt China market with increasing production efficiency and price advantage obtained through local production facilities."
