Chunghwa Picture Tubes, Ltd. and Prima Electronics Inc. will join hands to establish the largest flat panel color TV base in the globe, which will be put into production in Xiamen in two years with nearly three billion yuan (US$385 million) of total investment.
This is regarded as a substantial act following both parties' cooperation in terms of the project for the largest flat panel color TV base in the globe, less than three weeks after Chunghwa Picture Tubes, Ltd. became the largest shareholder of Prima Electronics Inc.
Chunghwa Picture Tubes, Ltd. signed a contract with Torch Hi-tech Development Zone Administration Commission yesterday on the project of TFT-LCD module site. This project will cover an area of 600,000 square meters with a total investment of US$200 million.
On the other hand, Prima Electronics Inc.'s project of flat panel TV industrial park will take up an area of 500,000 square meters with a total investment of 1.3 billion yuan. It was revealed that the above two projects will be completed simultaneously and put into production in two years.
Lin Chenhong, president of Chunghwa Picture Tubes, Ltd. remarked that the company's cooperation with Prima Electronics Inc., which features excellent research and development capability and large-scale production capacity, targets the goal of becoming the No.1 manufacturer of flat panel TV in China and later one of top five manufacturers in the globe.
Both parties will strive to boost their flat panel TV output to over 10 million before 2010 so that Prima Electronics Inc. will rank amongst one of the most important production base of flat panel TV in the world. He indicated that after Chunghwa Picture Tubes, Ltd. became a shareholder of Prima Electronics Inc., both parties will jointly build up the Prima brand.
(Chinanews.cn January 18, 2006)
