LED firm Genesis steps up investment in China
Taiwan-based LED chipmaker Genesis Photonics is scheduled to invest US$35 million in 2012 in China on the construction of its plant in Kunshan, southern China. The plant is expected to be completed in the third quarter. The Kunshan plant is a joint venture between Genesis and the Kunshan municipal government. Construction began in September 2010 with a total investment of around US$200 million. The municipal government will provide 51% of the funds and Genesis 49%. The investment amount for the first phase is US$35.88 million for Genesis.