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Panasonic gets majority stake in LCD JV with Hitachi, Toshiba

Posted: 19 Feb 2008 ?? ?Print Version ?Bookmark and Share

Keywords:LCD? plasma? display deal?

Matsushita Electric Industrial Co. will spend about $611 million to take a majority stake in IPS Alpha Technology Ltd, a LCD maker company it co-operated with Hitachi and Toshiba, according to an Associated Press report. With the completion of the deal, IPS Alpha will become a unit of Matsushita.

Toshiba Corp. announced in December 2007 it is selling its stake in IPS Alpha and will team with Sharp Corp. to procure LCD panels for TVs.

IPS Alpha disclosed Feb. 15 that its $2.7-billion new panel factory in Himeji City, Japan will start production by January 2010, with annual panel production capacity enough for 15 million 32-inch TVs. IPS Alpha's annual production is expected to make enough panels for 21 million 32-inch TVs by 2013.

Matsushita will continue to supply Hitachi with LCD panels and both companies will also supply each other with screens for plasma TVs.

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