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China Firm To Buy 26 Percent Stake In TPV
August 28, 2003 |
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Comments | Category: Gadgets & Electronics
BOE Technology Group Ltd, a China-based technology provider, is planning to grab a 26 percent stake in California-based monitor display tech firm TPV Technology Ltd, though specific financial terms have yet to be disclosed.
TPV and BOE have been partners since 1997, when they jointly formed Beijing Orient Top Victory Electronics Co. Ltd, which develops cathode ray tubes and liquid crystal display monitors, as well as plasma display panel televisions. This new deal is expected to enable TPV in increasing its production quicker, reduce the cost of LCD manufacturing, and branch into new areas such as LCD televisions.
"This closer tie with BOE will bring long-term benefits by strengthening TPV's brands and solidifying our commitment to become a world-class manufacturer in display technologies," says Jason Hsuan, chairman and CEO of TPV.
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