Sony to sell 90% stake in overseas LCD subsidiary to Hon Hai
Published: 01 Sep 2009 01:24:05 PST|
Sep. 1, 2009 (China Knowledge) - Sony Corp on Tuesday announced that it will sell a 90% stake in Sony Baja California to Taiwan-based Hon Hai Precision Industry Co Ltd as part of its cooperation deal with the latter. Hon Hai will take over Sony's LCD TV assembly plant in Tijuana City in Mexico, which has 3,300 employees, but Sony will keep a 10% stake in Sony Baja California, according to the Japanese firm's statement. Pursuant to the agreement, the Tijuana plant will keep producing LCD TVs for customers in North and South America. However, no details on the value of the agreement were disclosed. The sale of the stake in Sony Baja California is accordance with the Japanese consumer electronics maker's asset-light strategy to improve profitability. Copyright © 2009 www.chinaknowledge.com |
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