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Business· TMT

TV maker TCL to buy stake in chip equipment firm ASM Pacific Tech

CKN
minutes 2018/10/10 03:49:39
2,691
China's Financial News, China News, TCL

Oct 10, 2018 (China Knowledge) - TCL Corporation <000100:SZE> , a Chinese multinational electronics company, is looking to acquire stakes in ASM Pacific Technology Limited <522:HK>. The company has reaffirmed its decision, as it makes known of its preliminarily contact with ASM Pacific in its stock exchange filing. However, no deal has been confirmed or signed yet.

TCL is a company that manufactures and sells household appliances such as the LCD television, water dispensers, and refrigerators. It also designs, develops and markets various mobile and Internet devices under TCL and ALCATEL ONETOUCH brands. According to HIS Markit, a financial analysis firm, TCL is among the world’s top LCD TV brands, with them ranking third in the U.S.

ASM Pacific is a HK-based investment holding company that engages in the manufacturing of machines and tools used in semiconductors and electronics assembly industries.

Through the acquisition of stake by TCL in ASM Pacific, it will help strengthen the position of the company as it seeks to transform its operations with the building and buying makers of key components needed in its production.

ASM Pacific stock closed at HKD 78.25 apiece yesterday, an increase from its 52 weeks low of HKD 74.80. 

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