TAIWAN - Innolux Display has announced plans to invest $55 million to set up a subsidiary company to manufacture LCD modules (LCM) in Xiamen, China.

According to a February 26 filing with the Taiwan Stock Exchange, the company’s subsidiary will be called Innocom Technology, and will make LCMs and other LCD-related products.

The company posted sales of $5.03 billion for 2007, up over 48% from $3.4 billion for 2006. Net profits for last year totaled $523 million.

Innolux chairman Hsing C. Tuan stated that he expects the company to continue to have record growth over the next 5 year, projecting over $34 billion in sales in 2013.
 
Last year, InnoLux began volume production of a 22-inch widescreen LCD monitor panel, and is scheduled to begin volume production of a 26-inch monitor panel in the first half of this year.