LED venture in an industrial park in the city

Aside from bring in MOVCD chambers, Tyntek is also speeding up investments in mainland China. It has recently invested around RMB353 million (US$53 million at US$1:RMB6.6) to team up with Fuzhou city LED Linear high bay light government to build an LED venture in an industrial park in the city. The venture is planned to have 30 MOCVD machines to turn out the wafers sometime in the third quarter of 2011 for making chips available for public lighting projects.

Great Wall Technology’s subsidiary, Shenzhen Kaifa Technology, has been aligned with Epistar JV Holding, Evertop (Fujian) Optoelectronics and Country Lighting to jointly set up a joint venture (JV) KFES Lighting Co., Ltd., which will engaged in the research, manufacture and sale of LED wafer, chips, source modules, light source and lighting with a registered capital of $120 million and total investment amount of $160 million.

It’s said that Great Wall Kaifa, Epistar, Evertop and Country Lighting will own 44%, 40%, 9% and 7% stakes, respectively, in the led high bay light, by making a capital injection of $52.8 million, $48 million, $10.8 million and $8.4 million, individually.The capital investment by Great Wall Kaifa will likely be funded by its internal resources. In addition, the registered capital of KFES will be contributed as capital injection by the JV parties in two stages in cash.