Monitor Manufacturer TPV Strengthens Foothold
in LCD Display Market
BOE to become substantial shareholder; enables TPV to expand production capacity, reduce manufacturing
costs and extend reach into consumer electronics sector
Fremont, Calif., August 28, 2003: TPV Technology Limited, a manufacturer of LCD and CRT monitors, has announced that BOE Technology Group Company Limited, its long-time manufacturing partner, is set to acquire a substantial stake in TPV. TPV is the owner of leading computer display brands AOC and Envision.
Under the terms of the agreement, BOE will acquire 26% of TPV’s existing issued share capital.
BOE has extensive experience in TV and computer display research, development and manufacturing, including an LCD panel fab in Korea with yearly capability of 3.5 million units. BOE is currently building a fifth generation LCD fab in Beijing, valued at $1.2 billion. The deal will enable TPV to take advantage of the new capacitiy, 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.
“This closer tie with BOE will bring long-term benefits by strengthening TPV’s brands and solidifying our commitment to become a world-class manufacturer in display technologies,” said Dr. Jason Hsuan, chairman and CEO of TPV. “BOE’s expertise in TV development and production, coupled with TPV’s well-developed display sales channels provide the ideal path to success in the consumer electronics space.”
“We welcome this investment and believe that the trusting and cordial relationship between the two groups will bring long-term economic benefits to our shareholders. With BOE becoming our substantial shareholder, the complementary business strategies will undoubtedly enhance our competitiveness in the ever changing IT and consumer electronics industries,” added Dr. Hsuan.
TPV and BOE have been strategic partners since 1997, when the two companies jointly formed Beijing Orient Top Victory Electronics Company Limited (OTPV), a Sino-foreign equity joint venture. OTPV designs, manufactures and distributes CRT (cathode ray tube) and LCD (liquid crystal display) monitors and PDP (plasma display panel) TVs.
About BOE Technology Group Limited
BOE is incorporated in the Peoples’ Republic of China. Its shares have been listed as B-share stocks and
A-share stocks on the Shenzhen Stock Exchange since June 1997 and January 2001 respectively. BOE is a
manufacturer of display devices and related electronic parts and components such as TFT-LCD, CRT, STN-LCD,
OEL and VFD as well as mobile digital products and IT services.
About TPV Technology Limited
TPV Technology Limited is a leading solutions provider in monitor display technology. The Group designs
and produces a wide range of CRT and LCD monitors for distribution to over 30 countries. TPV’s products
add value to customers through cost leadership, timely delivery and superior quality. TPV brands include
AOC and Envision.
TPV has been recognized with International Standards Organization 9001 and 14001 accreditations. In 2002, TPV was ranked the second-largest manufacturer of computer monitors in the world*. The company is expected to maintain this standing and to be ranked 4th in LCD monitor production worldwide** in 2003. TPV is based in Taiwan and traded publicly on the Hong Kong & Singapore Stock Exchanges. TPV was recently named one of BusinessWeek’s Info Tech 100 IT companies.
* based on sales data to date
** based on projected sales
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