Electronics Production | July 02, 2007
Lite-On acquires Philips subsidiary in Hungary
Lite-On IT's subsidiary in the Netherlands has acquired a 100% stake in Automotive Playback Modules (APM) Hungary Limited from Royal Philips Electronics.
The price is 14.262 million euro. According to a filing with the Taiwan Stock Exchange, Lite-On then increased the company's capital by 19.317 million euro. The acquisition in Hungary for Philips' production base was based on a contract stipulating Lite-On IT would purchase Philips' APM business unit at the end of 2006.