Taichung Electric plans to acquire Qi Yao to cross the LED packaging field

On October 8, 2013, Taichung Electric Power Co., Ltd. decided to publicly acquire the common stock of Kai Yao Optoelectronics of LED packaging factory. It is planned to acquire about 60% of the approximately 160 million shares of Qi Yao Optoelectronics. The purchase price is NT$0.8 per share. The total purchase amount is approximately NT$128 million. The acquisition period is from October 9 to November 18. With the approval of the Fair Trade Commission, it is expected that all publicly acquired trading operations will be completed by the end of the year.

CLP started from the traditional manufacturing of light bulbs, and became the leader of Taiwan's lighting industry with the brand of “East Asia Lighting”. In recent years, it has also actively entered the LED lighting market. After Taiwan’s LED vertical integration factory Lunda merged into Power League, CLP has become a long-term Dada’s largest corporate shareholder, and this time re-launched the acquisition of Innolux’s LED packaging factory.

CLP pointed out that it is expected that through this public acquisition plan, it will step into the LED packaging manufacturing, and at the same time master the key technologies of LED lighting upstream, form a one-stop supply chain of upstream and downstream LED lighting, and integrate technical resources to greatly enhance competitiveness and increase sales. And profitability.

The two major shareholders of LED packaging factory Qi Yao are Chi Mei Industrial and Innolux, Chi Mei Industrial holds 39.2%, and Innolux is 23.8%. Up to 90%, only about 1 became the lighting business. It is reported that Qi Yao has listed CCFL fixed assets losses in 2013, and is currently carrying out liquidation of Foshan and Maanshan plant, and is expected to pull the manufacturing center back to Tainan.

Upon completion of the acquisition of the present disclosure, CLP said that it will continue to support the existing operation team of Kai Yao Optoelectronics to continue to operate the current business projects and various businesses of Kai Yao Optoelectronics. In the short term, it has not adjusted the internal organization structure of Qi Yao Optoelectronics. Specific plans for business plans, financial conditions or production.

CLP spokesman Li Zonglong said that the public acquisition will enable China Electric and Kai Yao Opto to further expand its business scope and help create new strategic business opportunities. In the future, the two parties will further strengthen the relationship between the upstream and downstream supply chains depending on the market conditions, so that both parties have the opportunity and ability to provide diversified products in the domestic and foreign markets, enhance mutual income, and benefit their customers.

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