Syntax-Brillian In Chinese Joint Venture

Tempe, Arizona-based Syntax-Brillian has signed an agreement to form a joint venture in China for the manufacture of its LCoS light engines, which it uses to develop LCD HDTV devices. The firm said that it has signed an agreement with Henan Costar Group Co., Ltd., a wholly owned subsidiary of the state-owned China South Industries Corp., to assemble and sell its devices. The joint venture will sell its devices to TV manufacturers in China, and eventually the rest of the world. Costar will be the 51% owner. Syntax will best approximately $2.45M in cash to the joint venture.