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BenQ spins off branded business

Posted: 30 Apr 2007 ?? ?Print Version ?Bookmark and Share

Keywords:mobile communications? BenQ fabless company? BenQ spin off? manufacturing services?

BenQ's Board of Directors approved the plan to spin-off its branded business, a continuation of BenQ Group's "Dual Core Competency Strategy" to focus on brand and services, and manufacturing and technology.

After the spin off, BenQ Corp. will be known as Jia Da Corp. and the spun-off company will succeed the name of BenQ Corp. The spun-off company will be a 100 percent owned subsidiary of Jia Da and the change is expected to elevate the operating efficiency and strengthen business competence of the BenQ Group.

"Today's announcement is a continuation and fulfillment of our Dual Core Competency Strategy, which allows the BenQ Group to focus on two very specialized fields of ICT industry," said K.Y. Lee, Chairman of BenQ Corp. "After the discontinuation of funding for the German mobile phone subsidiary, BenQ's branded business structure has become less complicated and the scale of the branded business has become relatively small compared to our integrated manufacturing service business. Therefore, it is a straightforward decision to spin-off the branded business."

BenQ's branded business has achieved sufficient profit and scale to sustain and grow its operation independently within a five-year span. After the spin off, the branded company will be positioned as a fabless company with strong integration of 3C technology in the fields of product design, mobile communications, mechanical and material engineering, and network convergence technologies.

All BenQ brand related global sales and marketing departments and related R&D units as well as the Lifestyle Design Center and part of the Advanced Technology Center will be transferred to the spun-off unit. K.Y. Lee, Jerry Wang and Conway Lee have been appointed as chairman, vice chairman and president of BenQ Corp. respectively.

The spin off would not impair the shareholders' interests, BenQ said. Jia Da. will be positioned as a dedicated 3C integrated manufacturing service provider. K.Y. Lee and Sheaffer Lee will continue to serve as chairman and president of Jia Da, respectively.

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