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Toshiba offloads AFPD shares to AUO

Posted: 04 May 2010 ?? ?Print Version ?Bookmark and Share

Keywords:LCD? mobile display? manufacturing?

Toshiba Mobile Display Co. Ltd (TMD) has concluded a definitive agreement with AU Optronics Corp. (AUO), under which the company will transfer to AUO all shares in its wholly-owned subsidiary AFPD Pte Ltd (AFPD), a manufacturer of LCD displays for PCs.

The agreement follows on from a memorandum of understanding signed by the companies at the end of March. Under the terms of the definitive agreement, TMD plans to transfer all shares of AFPD to AUO on July 1.

TMD will now concentrate management resources on its manufacturing facilities in Japan. The sites produce displays for mobile devices, including mobiles phones and smart phones and for automotive applications, such as car navigation. TMD will also continue to implement restructuring initiatives to return its LCD business to the path of sustained growth with profit.

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