Mitsui & Co to acquire 10 per cent stake in TPV for $154 million
30 January 2010
Japanese trading house Mitsui & Co said today that it will take a 10-per cent stake in display maker TPV Technology Ltd for $154 million.
Hong Kong-based TPV, listed on both the Hong Kong and Singapore stock exchanges, with 2009 sales of $9,247 million, is the largest PC monitor and LCD TV maker in the world having a strong presence in the Chinese market.
Tokyo, Japan-based Mitsui has been a long time supplier of LCD modules and related parts to TPV, and said that it has established an excellent business relationship with TPV..
Mitsui said that the investment into TPV will broaden its geographic reach in the growing LCD TV market.
With the support of Mitsui, it is expected that the TPV would gain further access to the increasing outsourcing orders from TV brand holders.
Mitsui will currently buy a stake of 10 per cent and said that it may later raise it to 20 per cent.