Chinese Sichuan Changhong has announced a US$225-million plan for a PDP (Plasma Display Panel) joint venture with sister company Century Shuanghong Display Devices and US private equity firm MatlinPatterson Global Opportunities Partners II. Named Sichuan Hongou, the venture will be located in the Mianyang High-tech Industrial Development Zone of Sichuan Province and used for the production of mid-range and high-end PDP TV monitors. Changhong will invest US$90 million for a 40% stake in Sichuan Hongou, and Century Shuanghong US$95 million for a 42.22% stake. The remaining 17.78% will go to Maverick Investment Holding and Cloudbreak Investment Holding, both wholly-owned units of MalinPatterson, for US$40 million.