TPV Technology Limited, a manufacturer of LCD and CRT monitors and owner of computer display brands AOC and Envision, has announced that BOE Technology Group Company Limited, its long-time manufacturing partner, is set to acquire a substantial stake in the company. Under the terms of the agreement, BOE will acquire 26 percent of TPV's existing issued share capital.
According to the company, BOE has experience in TV and computer display research, development, and manufacturing, including an LCD panel facility in Korea with yearly capability of 3.5 million units. BOE said it is currently building a fifth-generation LCD facility in Beijing, China valued at U.S. $1.2 billion. The deal will reportedly enable TPV to take advantage of the new capacity, allowing the company to ramp up production quickly, reduce the cost of LCD manufacturing, and extend its product line into new areas such as LCD TVs.
TPV and BOE have been strategic partners since 1997, when the two companies jointly formed Beijing Orient Top Victory Electronics Company Limited (OTPV). OTPV designs, manufactures, and distributes CRT (cathode ray tube) and LCD (liquid crystal display) monitors and PDP (plasma display panel) TVs.
to Daily News