Thomson transfers TV tube production to India

26th January 2005, Comments 0 comments

PARIS, Jan 26 (AFP) - French elecontrics group Thomson, which has been divesting its consumer goods businesses, is transferring production of cathode ray tubes for television sets to Indian firm Videocon, the French company said Wednesday.

PARIS, Jan 26 (AFP) - French elecontrics group Thomson, which has been divesting its consumer goods businesses, is transferring production of cathode ray tubes for television sets to Indian firm Videocon, the French company said Wednesday.

The move was part of a joint venture deal with the Indian consumer electronics and appliances group, under which the Thomson's TV tube production would be transferred from Anagni central Italy to India.

As part of the agreement, the Indian firm would redevelop the Italian plant to manufacture alternative products.

It October 2004, Thomson said it was looking for partners for its electronic displays business as it pushes ahead with plans to pull out of the consumer goods market.

The announcement followed the company's decision last year to stop making television sets, leaving the manufacturing to Chinese partner TCL, which owns a majority stake in a joint venture between the two firms.

The company said at the time it would book a EUR 780 million (EUR 1.014-billion) exceptional charge in the second half of 2004.

On Wednesday, Thomson said financial charges related to the divestment of its TV tube business would be in line with those announced in October.

These charges would "mostly" apply to 2004 results, it said.

© AFP

Subject: French News

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