NationStar Optoelectronics Plans to Set Up East China Production Base for USD152 Million
Xu Wei
/SOURCE : Yicai
NationStar Optoelectronics Plans to Set Up East China Production Base for USD152 Million

(Yicai Global) Sept. 29 -- Chinese LED maker Foshan NationStar Optoelectronics Co. [SHE:002449] has signed a letter of interest with Haiyan Economic Development Zone in China's eastern Zhejiang province, within which it expresses plans to invest CNY1 billion (USD152 million) to set up an East China production base, the company said in a statement yesterday.

The electronics manufacturing plant, which will be built over 20.4 acres, is planned in three phases. Construction will take about five years.

NationStar believes the new production base will help it optimize its regional strategic business, expand scale, perfect its business structure and integrate resources to further enhance competitiveness, the statement said, adding that the pair plan to engage in other strategic cooperations.

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Keywords: Foshan NationStar Optoelectronics , Electronic Manufacturing , Expansion , Haiyan Economic Development Zone , Zhejiang