Sony to Sell LCD TV Plant in Spain
September 09, 2010
Sony
announced that the company plans to split its LCD (Liquid Crystal Display) TV
factory located in Barcelona, Spain into two companies and sell the divided
units to Spanish Ficosa International SA and COMSA Emte SL, according to a
September 7, 2010 report by Reuters. It is reported that the sum of the deal is
not disclosed. One of the two units which focuses on LCD TV production will be
sold to Ficosa, and Sony is projected to outsource its LCD TV manufacturing business
for Europe to this company after the deal is finalized for two years. Ficosa
and COMSA are expected to take a 50% stake each in the other entity, which
focuses on LCD TV design and development. Sony said that the company's 75
billion Yen (US$898.2 million; US$1=83.5 Yen) restructuring project for 2010 is
expected to cover the losses resulted from the factory sale, according to the
same source.