Toshiba Corporation announced that it would strengthen its liquid crystal display (LCD) TV business and expand sales in Europe by establishing Toshiba Television Central Europe Sp. zo. o., a production and sales company for LCD TV, located in Kobierzyce, near Wroclaw, Poland. Representatives of Toshiba and the Polish Ministry of Economy met in Warsaw and signed a letter of intent on Toshiba’s investment.
Toshiba currently manufactures LCD TVs in Europe at Toshiba Information Systems (UK) Ltd. (TIU). The company believes establishing an additional production base will help meet demand and reinforce its presence in the pan-European market. The total investment in the Kobierzyce plant will reach about 6 billion yen (approx. 40 million euros) over 5 years, and production will start in August 2007. Toshiba targets combined production at Kobierzyce and TIU of some 3 million units by the 2009 fiscal year, with the focus on large-sized LCD TVs.
to Daily News