MDS MERGES WITH TOPPOLY

[BIZ: Heerlen/Betten, November 10]
Philips is merging its Mobile Display Systems’ activities with Toppoly Optoelectronics from Taiwan. The transaction means that Toppoly will be taking on a debt of EUR 70m. Philips expects the merger to be completed in 2006. Following the transaction, Phillips will have a 17,5% stake in the business, which will be called TPO. Other major shareholders are the Taiwan companies Compal electronics, and UniPresident Enterprises, which will have 25,1% a 3,5% respectively. Phillips put MDS, which develops screens for cell phones into its Other Activities department at the beginning of 2005. These activities were part of the Semiconductor division, and before that of the Components division, which no longer exists.

There are positive assessments of the company’s options following a sale/joint venture from the analysts.

(Source: Novum)
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