Mergers and Acquistions News
Categories: Hardware, Software
July 14th 2011, 17:06PM
Compal Electronics has announced that it will acquire Toshiba's LCD TV manufacturing facility in Mexico in a bid to boost production of the devices.
The world's second-largest contract manufacturer of laptop PCs has confirmed that it has entered a contract to acquire the Ciudad Juarez-based plant Toshiba Electromex SA de CV. No financial details of the agreement were made available.
The deal, subject to regulatory approvals, is expected to be completed by the end of the third quarter of 2011.
"By acquiring TMX (Toshiba Electromex), Compal looks forward to expanding LCD TV manufacturing flexibility, a diversified sales mix, and revenue growth momentum in the future," the company said in a statement.
Earlier this year, Compal president Ray Chen forecast that the company will produce eight million LCD TVs this year, compared to 5.4 million units in 2010.
Compal is focusing on notebooks, tablet PCs, TVs and smartphones in order to boost future growth. 
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