Rare Earth, Siemens tie-up

Rare Earth, Siemens tie-up

China Rare Earth Holdings Ltd said yesterday that it will set up a joint venture in China with Siemen’s OSRAM to produce and sell phosphor products for the lighting industry.

The joint venture, which will have an investment of 43.5 million euros ($65.10 million), will be 49.9 percent owned by China Rare Earth and 50.1 percent by OSRAM. The joint venture will have an annual production capacity of up to 2,000 tons of tri-band phosphor when it starts operating.