Taiwan's new merged firm mulls LCD plants in China

TAIPEI, Nov 14 (Reuters) - The new LCD company created by a merger between Chi Mei (3009.TW) and Innolux (3481.TW) plans to set up new display factories in China in the future.

Terry Gou, chairman of the Hon Hai group in which Innolux is one of its units, told reporters that the new company will definitely build LCD plants in mainland China, but he did not say how many factories will be built.

Under the tie-up, both companies have agreed that 2.05 Chi Mei shares will be exchanged for one Innolux share. The new company will be named as Chimei Innolux Corp. (US$1=T$32.3) (Reporting by Baker Li, Editing by Lee Chyen Yee)