IBARAK CITY, Osaka, Japan -- Matsushita and Japanese synthetic fiber producer Toray Industries have formed a joint venture here to produce plasma display panels, the companies announced.
Matsushita formed the company with the goal of significantly reducing the price of its plasma display products.
Under the agreement, Matsushita will put up 75 percent of the capital with Toray adding the remaining 25 percent.
The company, which is called the Matsushita PDP Company Ltd. (MPDP), will use Matsushita's PDP product technology and Toray's rear-panel technology to begin assembling PDP panels and TVs, starting in June 2001. The company's will also collaborate further PDP technology development.
The company will produce 10,000 panels per month ininitally, and is expected to ramp up to 30,000 by 2002.