MIC Electronics joins hands with leyard optoelectronics

MIC Electronics Ltd has entered into a joint venture with Leyard Optoelectronics Co Ltd, based in Beijing, in the LED (light emitting diode) light business.

The agreement will see an investment of about $50 million for the manufacture of LED chip and packaging facility in India along with another company to offer products in the country and South-East Asia, said a PTI report.

As part of the strategic alliance, the companies plan to work together in LED-related business enabling MIC to expand the product range. Leyard will be able to offer LED street lights and solar LED lighting products.