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Samtel: monitor unit spin-off planned

Indian group Samtel plans to spin-off its colour monitor unit into a separate venture in collaboration with a foreign firm. The group“s colour monitors are currently produced by Samtel India. In the …

Indian group Samtel plans to spin-off its colour monitor unit into a separate venture in collaboration with a foreign firm. The group“s colour monitors are currently produced by Samtel India. In the spin-off, Samtel intends to sell off a minority stake which is likely to be just under 25%. According to Samtel Colour chairman and managing director Satish Kaura, the joint venture partner will not be Korean group Samsung, with which Samtel has a joint venture for glass part manufacturing. The glass required for the manufacturing unit will come from the group company, Samcor Glass, said Kaura. Samtel Colour has also announced plans to invest about Rs 250 crore in a unit at Ghaziabad for the production of two million colour display tubes a year for computer monitors.

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