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Formosa Epitaxy To Expand LED

Formosa Epitaxy to raise capital for expanding LED capacity

According to a widely circulated report from Taiwan’s Digitimes, the Taiwan based maker of LED chips, Formosa Epitaxy is planning a major expansion of its LED capacity from 43 MOCVD sets to 81 by the end of 2010. According to the report the company plans to raise the capital by issuing up to 150 million shares with a view to a target of around US$ 162.6 million. An upcoming eholders meeting will discuss financing options before a decision is made. The new developments will occur in Taiwan and China.

There are a number of opportunities developing in Asia for the company, including the Chinese plan to move to LED street lighting and provide subsidies to help the process. The company feels that street lighting will be a major opportunity for LED makers whether subsidies develop or not. With growing markets in Japan, South Korea, China and Taiwan there is enough local demand that the company feels the new capacity will be absorbed.

With other markets around the world starting to evolve and expand there will be many more opportunities for market growth.
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