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CMO funds two lighting firms with $27.92M

Posted: 25 Jun 2008 ?? ?Print Version ?Bookmark and Share

Keywords:China lighting investment? green lighting venture? energy-efficient lighting? green energy?

Chi Mei Optoelectronics has acquired a 3.4 percent equity stake in China Electric Manufacturing for nearly $8.2 million (NT$ 250 million) and a 40 percent equity stake in CE's subsidiary TOA Optronics for $19.7 million (NT$600 million) via CMO subsidiary Yuan Chi Investment. This is CMO's latest investment in the light source industry, specifically in a green lighting venture, following its earlier investments in GIO Optoelectronics and Chi Mei Lighting Technology.

"The two companies that we've invested in to dateGIO Optoelectronics and Chi Mei Lighting Technologyare engaged respectively in R&D, manufacturing and sales of CCFL and LED products," said CMO president Jau-Yang Ho. "Apart from being a steady supplier of these products to CMO, these companies are also highly competitive in their market areas."

He added: "In the future, CMO will actively invest resources into the development of the lighting industry via our foothold in the backlight module market. It is for this reason that CMO sees its partnership with China Electric Manufacturing of Taiwan, as creating mutual synergies and strengths that will hasten the development of next generation energy-efficient lighting and applications and the wide adoption of green lighting for efforts to reduce power consumption and protect the environment."

Chan Chang-gung, president of China Electric Manufacturing, commented, "We are happy to be working with CMO as supplier of flat panels. We are also confident that with both companies' light source technologies and R&D talent, Taiwan's green lighting technology will get a significant boost toward the creation of more mature and energy-efficient products, further advancing the early adoption of green lighting solutions in a wide spectrum of applications."

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