Samsung LED, a light-emitting diodes (LED) unit of Samsung, the global electronics giant, has set up its first overseas manufacturing base in Tianjin, China.
Tianjin Samsung LED Co., Ltd, was established with a starting capital of 30 million U.S. dollars, according to the Tianjin Economic-Technological Development Area (Teda) Administrative Commission. The spokesman Zhang Liang said Saturday that initial investment to the Tianjin manufacturing base would reach 90 million U.S. dollars.
The company had just finished registry with the local government in Teda, but it was not clear when the base would be constructed and begin production, said Zhang.
The base would be dedicated to the making of LEDs, a new generation of lighting source that excels traditional light sources, as it is less energy-consuming and long-lived, and improves image contrast and display.
Samsung has so far invested in 11 manufacturing companies in Teda, with an overall investment of 1.6 billion U.S. dollars. Tianjin takes about one third of the group's investment portfolio in China.
Tianjin, the biggest port city in north China and a traditional industrial base, is aiming to become the country's third fast-growing area besides the two economic engines in the Pearl River Delta in south China and the Yangtze River Delta in east China.
