30 December 2010

Mitsui to become FOREPI’s largest shareholder, taking 15% stake

Taiwan-based LED chipmaker Formosa Epitaxy Inc (FOREPI) says that Japan-based Mitsui & Co (which has businesses involving the monitor and automobile industries) is to become its largest shareholder by taking a 15% stake through private placement, reports Digitimes.

Mitsui will purchase 74.693 million shares, while Taiwanese LED packaging house Unity Opto Technology Co Ltd will increase its stake by purchasing 15.307 million shares.

FOREPI will raise about NT$3.2bn (about US$107m) of funding in total. This is different from fellow chipmaker Epistar, which is focusing mostly on expanding capacity, it is said. FOREPI continues to expand its development vertically and increase export demand.

Based on the roadmaps of FOREPI and Mitsui, the investment will focus in the short-term on LEDs for monitor and TV back-lighting, in the mid-term on the lighting market, and in the long-term on the automobile market. The cooperation with Mitsui will focus on the Chinese and Japanese markets.

FOREPI also expects to attract more strategic partners thought its cooperation with Mitsui.

See related items:

LED chip demand for TV backlight to return to first-half 2010 level in Feb

Tags: FOREPI Mitsui Unity Opto LEDs

Visit: www.forepi.com.tw

Visit: www.digitimes.com/news/a20101227PD224.html