28.03.2011 • News

Samsung LED, Sumitomo Chemical To Set Up Wafer JV

Samsung LED, a joint venture led by Samsung Electronics, and Sumitomo Chemical said on Monday they had agreed to form a wafer joint venture.

Samsung LED said in a statement that the 50-50 joint venture capitalized at around 80 billion won ($72.02 million) would make sapphire wafers used to make light-emitting diodes (LED).

The company plans to build a production plant this year, with mass production from early 2012, Samsung LED added.

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