BUSINESS IN SHORT

Foxconn buys Sony plant in Nitra

TAIWANESE electronic goods producer Foxconn has agreed with Sony to buy 90 percent of Sony's LCD TV assembly factory in Nitra in western Slovakia.

TAIWANESE electronic goods producer Foxconn has agreed with Sony to buy 90 percent of Sony's LCD TV assembly factory in Nitra in western Slovakia.

The purchase price was not revealed. Production will not be halted in the factory; instead, the number of people employed at the factory should increase, according to the Economy Ministry which was informed about the purchase on March 31, the Sme daily reported.

"It is part of our attempts to increase the profitability of the business with LCDs," Sony representative Hiroaki Takagi said, as quoted by Sme.

The deal would ease Foxconn's entry into the European market and help it to expand its LCD TV OEM business and shipments, the SITA newswire reported earlier. Foxconn also had acquired Sony’s LCD TV assembly factory in Mexico and Sony’s OEM orders for the North American market during the final quarter of 2009.


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