hi Mei Optoelectronics Corp (奇
The company will begin assembling LCD TVs at its new facility in Foshan by the end of next year, with capacity at the factory to reach 2 million units a month by the end of 2008, Loreta Chen (陳
Chi Mei, based in Tainan, began production of partly assembled TVs, or modules, at a separate facility in Ningbo in April, Chen said. The Ningbo plant will have capacity of 1.35 million a month by the end of next year, she said.
Chi Mei and rivals such as AU Optronics Corp (友達光電) are expanding their screen-assembly production facilities in China to take advantage of lower wages and proximity to China's growing TV-manufacturing industry. The LCD makers are also trying to attract suppliers to the area.
"There should be some suppliers with us," Chen said. "An effective cluster would be very helpful to the industry."
Domestic sales and exports of Chinese-made LCD TVs rose six-fold last year to 4.2 million units from 700,000 a year earlier, according to Beijing-based research company CCID Consulting Co.
The government has approved a total of US$90 million in investments this year for Chi Mei to expand its presence in China. Chi Mei's board on March 31 approved US$30 million in spending on a new facility in China and US$60 million for the existing plant in Ningbo.
Hsinchu-based AU Optronics said on July 5 that it is seeking a US$420 million loan to expand its screen assembly plants in Suzhou and Xiamen.
Chen would not comment on reports that Chi Mei would invest a total of US$2 billion in the Foshan facility.
Shares of Chi Mei Optoelectronics were up NT$0.95 at NT$38.50, while AU Optronics lost NT$0.70 at NT$47.80.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to