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Electronics Production | April 29, 2008

Update: Wistron plans to acquire Lite-On

Wistron announced the approval of acquisition plans for the Taiwan-based monitor business of Lite-On Technology.
The proposal calls for a purchase price of approximately $300 million (NT$9.2B) in cash. The purchase mostly involves inventory, equipment, intellectual property, and personnel. No land or manufacturing plants are included.

Wistron expects this action to compliment its existing line of LCD TVs and increase Wistron’s presence in the display industry. Wistron will be able to provide a broader platform of products to existing customers.

The company also announced financial results for the first quarter ended March 31. The consolidated revenue reached €1.8 million (NT$86,810 million), operating income was around €35000 (NT$1,687 million), profit before tax (PBT) was around €45000 (NT$2,117 million) and profit after tax (PAT) was around €35000 (NT$1,677 million).

The company told Reuters that Wistron planned to do more acquisitions to strengthen its supply chain, and that the company -- like many of its rivals -- wanted to move some of its manufacturing to Vietnam but was still in the planning phases.
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