A Monday report has LG Display and Amtran – maker of Vizio LCDs – agreeing to set up a joint production plant to manufacture LCD panels and TV sets for their brands in China. Under the agreement, Amtran's existing facility in Suzhou, China, will see a $20 million initial investment. The new plant, due to commence operation early next year, will produce 3 million LCD modules along with 5 million LCD TV sets.

South Korea-based LG Display will own 51 percent of the new company, while Taiwanese Amtran will retain the remaining 49 percent stake. LG Display is the world's second-largest LCD panel maker behind Samsung, and the new venture will help it cut costs while increasing the number of its clients in today's competitive market that is in a current down-turn.