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CPT Considers Closing A 4.5G TFT-LCD Line

Post Time:Dec 01,2008Classify:Company NewsView:492

Chunghwa Picture Tubes, Ltd. (CPT), the third-largest thin film transistor-liquid crystal display (TFT-LCD) panel manufacturer in Taiwan, recently announced that it won`t rule out the possibility of suspend one 4.5th-generation (4.5G) production line, but hasn`t any plan to reduce its workforce so far.

CPT president Kay Chiu made the statements at his company`s CPT Family Day Sports Games. He also urged banks not to tighten their lending terms.

Chiu said that none of the firm`s production lines has been closed as rumored, but CPT won`t rule out the possibility of integrating some production lines so as to cut cost to tide over the cold winter of the panel line. Currently, he said, CPT`s average equipment utilization rate is about 60%.

W. S. Lin, chairman of CPT, claimed that after a tie-up with the strategic investment partner Warburg Pincus of the U.S. in 2007, CPT`s finance has got strong support from the new partner.

CPT`s chief financial officer (CFO) James Wu claimed that his company now keeps over NT$20 billion (US$606.06 million at US$1: NT$33) worth of cash in hand, US$6 billion-worth accounts receivable, and NT$4 billion (US$121.21 million) in unused syndicated bank loans.

Lin said that he hopes the forecast made by DisplaySearch, the worldwide leader in flat panel display (FPD) market research and consulting, would come true-- the global panel industry will rebound in the second half of 2009.

Source: CENS.comAuthor: shangyi

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