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Hitachi to Establish
Projection TV Picture Tube Manufacturing Company in China |
TOKYO, May 17, 2001 --- Hitachi, Ltd. (TSE: 6501) today announced that
it is to establish a company in China to manufacture picture tubes for
projection TVs. The new company, named Shenzhen Hitachi Displays, Co.,
Ltd., will be located in the city of Shenzhen, Guangdong Province. The
company will have a capitalization of $16 million, and will involve
a total investment of some $29 million. Factors such as the increasing demand for high-picture-quality, large-screen TVs and the increasing popularity of DVD are expected to spur the growth of the projection TV market in the U.S. and in Asia, especially China. Hitachi has the largest share of the market for projection TV picture tubes. The new manufacturing facility in China will enable Hitachi to increase its production capacity, strengthen its price-competitiveness and respond to the rapid expansion of this market sector that is expected to take place in China. Outline of the New Company
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WRITTEN BY Corporate Communications Division |