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Ritek receives approval to build subsidiary in China

Posted: 21 Oct 2004 ?? ?Print Version ?Bookmark and Share

Keywords:ritek? protek optoelectronic?

Taiwan-based Ritek Corp. has already received permission from Taiwan to construct its third subsidiary, Protek Optoelectronic, in Kunshan, mainland China. The company will initially invest $15 million for Protek's facilities. At present, it already has two existing subsidiaries in mainland China - Hutek and Welltek.

Ritek received permission to invest $24 million in all its projects in mainland China, including Protek, which accounts for 22 percent of Ritek's paid-in capital, 15 percent of its overall assets and 21 percent of shareholders' equity.

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