Change in Ownership of Toshiba Television Central Europe-Toshiba to reorganaize LCD TV Supply Structure in Europe -
TOKYO — Toshiba Corporation (TOKYO:6502) today announced that it has concluded a definitive agreement to transfer ownership of Toshiba Television Central Europe Sp. z o.o. (TTCE), an LCD TV manufacturing company in Poland that supplies products to the European market, to Compal Electronics, Inc. of Taiwan (Compal). The target for finalization of the transfer is the fourth quarter of FY2013, following completion of necessary anti-trust clearance procedures.
After the transfer of ownership to Compal, Toshiba will continue to supply the European market with LCD TVs manufactured at the plant, through an original design manufacturer (ODM) partnership with Compal.
Compal has long been one of Toshiba's ODM partners in LCD TVs, and through the synergy of Compal's cost-competitive production expertise and Toshiba's capabilities in developing differentiated products, Toshiba aims to further increase its competitiveness in Europe.
Toshiba will continue to promote reforms of its business processes and operations, aiming to see profit in its visual products business in the second half of this fiscal year
Outline of TTCE
|Company name:||Toshiba Television Central Europe Sp. z o.o.|
|Number of Employees:||Approximately 700|
|Business:||Production of medium- and large-screen LCD TVs|