Compal Electronics, Inc. to Acquire Toshiba’s European LCD TV Manufacturing Facility.
Compal Electronics, Inc. (Compal) (TAIEX: 2324) had carried a resolution of meeting of the Board to enter into an agreement to acquire the 100% ownership of Toshiba Corporation’s LCD TV manufacturing factory, Toshiba Television Central Europe, sp. zo.o. (TTCE), located in Wroclaw, Poland, today. Details of the transaction are subject to the limitations of applicable laws, and the non-disclosure agreement between the parties. The target completion date is by the end of the first quarter of 2014, after obtaining necessary government authorities’ approval.
Toshiba is one of Compal’s major customers in LCD TV business. This deal will undoubtedly further strengthen the relationship between Compal and Toshiba. After the completion of the deal, Toshiba will continue to supply to the European market with LCD TVs manufactured at the plant, through an original design manufacturer (ODM) partnership with Compal.
Compal group has established its long-term growth strategy to focus on and invest in the “4-Screens”, namely the NB PCs, Tablets, Smartphones, and LCD TV products. By acquiring TTCE, Compal is looking forward to expanding LCD TV manufacturing flexibility, diversifying its geographical coverage, and generating revenue growth momentum in the future.
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