Consumer electronics maker Thomson announced it will transfer its Italian tubes manufacturing facility in Anagni to Videocon, India's leading manufacturer of consumer electronics and white goods.
Videocon is pursuing an international expansion strategy and will develop its European manufacturing base from the Anagni plant in Italy. The agreement between Thomson and Videocon will therefore enable the progressive development of new manufacturing operations at Anagni, according to Thomson.
The transaction is in line with a one-time charge, which Thomson previously announced, that will be taken against the company's 2004 results.
According to Thomson, the agreement illustrates Thomson's determination to find a sustainable future for the sites within its Displays business. Thomson has previously announced a strategy of partnerships in Displays, which continues to progress on plan and schedule.
to Daily News