Matsushita, Canon and Hitachi to team up to build LCD panel plant

Matsushita Electric Industrial Co., Canon Inc., and Hitachi Ltd. will team up to build a LCD panel plant. Nihon Keizai Shimbun reports that they will invest more than 300 billion yen ($2.625 billion) in the construction of a seventh-generation (7G) or an 8G glass fabrication line in Ibaraki or Hyogo prefecture. In addition, if it will select an 8G line, the monthly capacity will reach 800,000 units in 42-inch equivalents.

On the other hand, Matsushita and Canon will purchase a 24.9% stake in Hitachi Display, a subsidiary of Hitachi. Hitachi Display is currently rolling out small to medium LCD panels and OLED panels, but after the stake sales, it aims to increase the panel business proportion, according to the report.