The technology company, Unaxis, has signed a memorandum of understanding with the Taiwanese government for long-term cooperation in the field of information technology.

"The Industrial Development Bureau of the Ministry of Economic Affairs of Taiwan has chosen Unaxis to create a long-term partnership for the development of the data storage, display products and semi-conductor industries in Taiwan," said a company statement.

The statement added that Unaxis will cooperate with the Industrial Development Bureau, companies and research organisations to develop thin film systems as well as research and development capabilities.

Zurich-based Unaxis was formerly known as the industrial conglomerate Oerlikon-Bührle. It changed its name last month as part of a strategic redirection towards becoming a leading high-tech company.

Last year, the company divested the shoe maker Bally and its military and real estate divisions. It also intends to sell off aircraft maker, Pilatus.

Unaxis has three core divisions -- information technology, surface technology and components.

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