TPV TECHNOLOGY TO BUY REST 30% OF PCES FOR USD17MN
AsiaInfo Services, October, 2006
AsiaInfo Services 10-19-2006 TPV Technology to Buy Rest 30% of PCES for USD17mn SUZHOU, Oct 19, 2006 (SinoCast via COMTEX) -- TPV Technology Limited said its solely-owned subsidiary PMCL would acquire a 20 percent stake of Philips Consumer Electronics (Suzhou) Co. and a 10 percent stake of the company from PCI for USD 17 million cash. TPV Technology will hold all equities of Philips Consumer Electronics (Suzhou), a monitor producer under Philips in China, in the wake of the stake acquisition for it had already bought 70 percent of the Suzhou company earlier. Industry analysts believed that TPV Technology will be able to strengthen corporate governance, enhance operating and managerial efficiency and reinforce competitiveness of PCES after purchasing it as a wholly...
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