Business Services Industry
Mitsubishi monitor plant to close.
Internet Securities, June, 2003
MEXICO CITY, Jun 25, 2003 (Cronica/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- The Japanese electronics giant Mitsubishi announced the closure of its Mexicali computer monitor factory, saying the plant would cease to operate as of July 15 as a result of low sales. The company blamed a change in market preferences toward liquid crystal style monitors as the cause of the factory's demise."The plant operated since 1998 with 1,200 Mexican employees, and they are going to liquidate all of us, just as Mitsubishi announced to us on February 27," said Oscar Garcia, the director general of the factory.The factory assembled 17-inch flat-screen cathode tube kinescope screens. Garcia said that lately, Samsung and Phillips have seized 90% of the market thanks to...
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