Flat panel maker CPT to sell CRT plant in Malaysia

Chunghwa Picture Tubes (CPT) has signed an agreement to sell the land and factory of its CRT plant in Malaysia to Dijaya Corporation Berhad, a local land developer, for MYR 391 million (USD 129.64 mil…

Chunghwa Picture Tubes (CPT) has signed an agreement to sell the land and factory of its CRT plant in Malaysia to Dijaya Corporation Berhad, a local land developer, for MYR 391 million (USD 129.64 million). The deal will be completed at the end of 2011. The company has said that after liquidating the CRT business, CPT will focus on production of small and medium-sized panels as well as touch screen devices with the aim of improving profitability. The CRT business unit posted consolidated revenues of TWD 1.12 billion in the 1Q of 2011 compared to TWD 1.62 billion recorded a quarter earlier.