Tianjin Samsung LED Co., Ltd. Completes Construction of and Initiates Operations on New Production Line in the Tianjin Economic Development Area

Jun 15, 2010, 10:00 ET from Tianjin Economic-Technological Development Area

TIANJIN, China, June 15 /PRNewswire-Asia/ -- Tianjin Samsung LED Co., Ltd. recently held a ceremony in the electronics industry sector of the Tianjin Economic Development Area celebrating the completion of construction and the beginning of operations on its new production line.

Korea's Samsung Group is one of the city of Tianjin's and the Tianjin Economic Development Area's most outstanding enterprises and best strategic partners. To date, the Samsung Group has funded twelve enterprises in the Tianjin Economic Development Area, generating a total annual production value exceeding 10 billion USD. The company has been highly successful, contributing significantly to the economic growth of the Tianjin Economic Development Area and the Bohai Economic Circle, and it has established a model for successful investment in China by a multinational company.

The establishment of Samsung's LED project is a significant event for the Tianjin Economic Development Area. Key leaders in the city of Tianjin and the Bohai Economic Circle have expressed high levels of interest in the LED project, and made numerous comments on the project's construction and development. The completion of construction and beginning of operations for Samsung's LED project, as well as the company's establishment of an excellent plan for future developments, mark a strengthening of ties in the strategic partnership between the Samsung Group and the city of Tianjin, and signify an even more promising future for both parties. The Tianjin Economic Development Area will continue to ensure excellent conditions for operations and growth for the Samsung Group, and will provide first class services as always. The Area also hopes that the Samsung Group will continue to move forward in its operations and seize this historic moment to develop and expand in the Bohai Economic Circle. The future establishment of more, even bigger projects in the Economic Development Area would result in great mutual benefit and shared development.

Korea's Samsung LED Co., Ltd., an international leader in its field, is a vertically integrated company engaged in the research and development, production, and sale of LED products, which are mainly used in LED TVs, indoor and outdoor lighting, car lights, and mobile telecommunications devices. Tianjin Samsung LED Co., Ltd., with a funding of 180 million USD, is an exclusively foreign-owned enterprise established by Samsung LED Co., Ltd., and it is the company's only production base outside of Korea. It is estimated that the company will have an output value of 10 billion RMB and will produce nine billion LED modules this year.

SOURCE Tianjin Economic-Technological Development Area