Sony sells off more LCD assets

The acquisition will be undertaken by means of a corporate split, where Kyocera will acquire the TFT LCD facilities of SMD located in Yasu City, Shiga Prefecture, Japan, effective June 1, 2010. Existing employment contracts will be assigned to Kyocera and employees transferred on the same date, a statement reads. Kyocera already develops, manufactures and markets small- and medium-sized (under 10.4 inch) LCDs for industrial applications worldwide. The acquisition of SMD’s TFT LCD business is intended to strengthen Kyocera’s ability to respond to this growth. This acquisition will enable Kyocera to expand its diverse TFT LCD line with products of even higher added value to meet a wider range of customer needs, the company announced. No information was provided on the value of the transaction.