Asia Express - Display
CMO to Acquire Chinese Westinghouse Digital Electronics
November 18, 2005
Taiwanese CMO is planning to spend a total of US$60 million to acquire Westinghouse Digital Electronics in Ningbo, China, a joint venture between US-based Westinghouse and Taiwan-based Coretronic, which mainly supplies LCMs to CMO. CMO plans to make the acquisition in two stages, buying a 50% stake in the first stage with US$30 million, and increasing its stake to 100% in the second phase with another US$30 million. By integrating the resources of Westinghouse Digital Electronics with its own, CMO will be able to lower production costs and increase production capacity.