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Samsung LED, Sumitomo Chemical Tie Up

Samsung LED Co., a South Korean manufacturer of light-emitting diodes, will form a venture with Sumitomo Chemical Co. to make components for energy-efficient lights used in televisions and monitors. The two companies will invest a combined 80 billion won ($72 million) and have an equal stake in the venture, the South Korean manufacturer said in a statement on its website today. The venture will start mass production of sapphire ingots and wafers used in light-emitting diodes, or LEDs, in early 2012.

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