Electronics Production |
BenQ to spin-off its branded business
BenQ's Board of Directors convened today to approve a plan to spin-off its branded business. The plan is a continuation of BenQ Group's “Dual Core Competency Strategy", which is to focus on the core competencies of brand & services and manufacturing & technology to maximize competitiveness and efficiency.
After the spin-off, BenQ Corporation will be renamed Jia Da Corporation (temporary translation) and the spun-off company is scheduled to succeed the name of BenQ Corporation. The spun-off company will be a 100% owned subsidiary of Jia Da Corp. and the change is expected to elevate the operating efficiency and strengthen business competence of the BenQ Group.
The spin-off plan is subject to approval by a meeting of shareholders on June 15, 2007 and the Board of Directors has set the record date of September 1, 2007 for the proposed spin-off.
BenQ's branded business has achieved sufficient profit and scale to sustain and grow its operation independently within a short five-year span; it operates and markets its diverse product portfolio through a strong global sales and marketing network. After the spin-off, the branded company will be positioned as a fabless company with strong integration of 3C technology in the fields of product design, mobile communications, mechanical & material engineering, and network convergence technologies. All BenQ brand related global sales and marketing departments and related R&D units as well as the Lifestyle Design Center and part of the Advanced Technology Center will be transferred to the spun-off unit.
