Singapore's Allied Technologies Limited has announced that its subsidiary, Allied Electronics (Shanghai) Co., Ltd., has signed an agreement to acquire the technical know-how, designs, usage of related patents, and regulatory safety approvals for the production and assembly of LCD monitors.
In a statement, the company said the agreement includes the acquisition of production equipment and inventories and the receipt of technological assistance, expertise, and training with respect to the use of the equipment for production.
Allied Technologies will pay U.S. $1.1 million for the acquisition.
Production is expected to begin in Shanghai in early 2004. (Asia Pulse)
to Daily News