Huan Hsin Holdings says subsidiary, Shanghai Huan Hsin Electronics Co. (SHH), has agreed to form a joint venture company with Shenzhen Bitland Information Technology Co. (SBIT) to manufacture notebook casings.
The JV company to be incorporated in Hefei, Anhui province, where the manufacturing operation will also be located.
SHH and SBIT will invest a total of RMB50 million ($9.8 million) in the JV company. SHH and SBIT would subscribe to a 51% and 49% stake respectively.
Huan Hsin believes the joint venture represents a good combination of the strengths and resources of SBIT and the Shanghai subsidiary.
The proposed investment in this joint venture will be funded from internal resources.
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