Taiwanese LED manufacturer Laster Tech has set its sights on the automotive lighting market as LED technology matures in this particular field. The company has settled most production order for 2014 and have recently announced the increase of US$4.5 million (NT$135 million) in funds in its Shanghai factory to meet capital turnover demands from soaring 2014 shipment orders.
Laster focuses on automotive lighting, increasing funds in Shanghai factory (photo courtesy of Laster subsidary CharDIN)
LEDs are slowly maturing in the automotive lighting market accompanying China's rising car demands that has driven up car lighting demands. Laster points out that the company has received a large number of 2014 preorders this year. However, due to the differences between the company's, supplier, and clients accounts receivable and accounts payable dates, the increased number of orders will also lead to an increase in the company's capital turnover demands. Therefore Laster plans to inject another US$4.5 million in their Shanghai factory.
Due to increase in capital turnover demands, Laster boards of directors approved a cash capital increase plan that will issue 5 million stock bonds at US$17 each.
