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Technology Stocks : C-Cube

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To: Stoctrash who wrote (33649)	6/6/1998 1:28:00 PM
From: John Rieman	Read Replies (1) of 50808

Changhong(C-Cube customer) gets bigger........................... chinadaily.net Merger of TV factories sought FUZHOU -- Changhong Electronics Group is seeking the merger of two television set factories in coastal Fujian Province. Yang Jianguo -- vice-mayor of Mianyang, where Changhong is based -- disclosed that Changhong is undertaking merger negotiations with Hitachi Fujian in Fuzhou. Yang made the remark at a press conference here yesterday morning. He said the possible path of co-operation between the two companies could be Changhong's shares in the Fujian company or converting Hitachi Fujian, a specialized plant under Changhong. Changhong, formerly a manufacturer of goods for the military, is one of the largest producers of TV sets, air conditioners and other electronic products. Last year, its production was valued at 25.65 billion yuan (US$3.09 billion), accounting for 35 per cent of China's colour TV market. This year, it plans to make 9 million colour TV sets and have 40 per cent of the market. Changhong's plan is to be one of the world's top 500 companies early next century.

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