Crystal-Optech buildings in Zhejiang. © Crystal-Optech

Asian Tech Press (Sep 22) -- Zhejiang Crystal-Optech Co.,Ltd. (002273:Shenzhen), a leading Chinese optics firm, announced on Wednesday that it intends to invest $7.5 million to establish a joint venture in Singapore.

According to the announcement, it is proposed that the joint venture, named Crystal-Moveon Technologies Pte.Ltd, will have a total investment of $11.5 million and a registered capital of $10 million.

Crystal-Optech plans to contribute $7.5 million with its own funds, holding 60% of the shares, while Moveon will invest $4 million, accounting for 40%, under the agreement.

Public information shows that Crystal-Optech is a leading manufacturer of optical films and related optical products for consumer electronics in China, and was listed on the Shenzhen Stock Exchange in 2008.

Moveon is a Singapore-based company specializing in the design, development and manufacture of miniature optical products.