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|2nd February 2005, 16:28||#1|
Join Date: May 2002
Graphics-card maker Gainward to sell brand name to Palit
Taiwan-based TNC Industrial has decided to sell the Gainward brand and branch Gainward Europe GmbH to Palit Microsystems for US$1 million and the net worth of the branch office at the end of 2004 (as certified by a CPA).
TNC is a leading Taiwan maker of nitrocellulose fibers and holds a 69% stake in Gainward. Continued losses at Gainward over the past two years forced TNC to decide to sell off its graphics-card business, while re-focusing its efforts on its core electronics-related chemical business, said the sources
more @ http://www.digitimes.com/news/a20050201A7036.html
also: Gainward survives investor games
Apparently Gainward has now persuaded TNC management to sell its shares to people who will be more committed in doing graphic card. Gainward made a great job in establishing one of the leading brands worldwide.
The critical moment came yesterday when TNC told some of our colleagues in Taiwan that Gainward will sell the brand and will shut down its business. Gainward categorically denies this, and categorise it as miscommunication filed by the old parent company.
Gainward headquarters were moved from Taiwan to Munich after an announcement of record profit in 2004. Its revenue continued to grow to €32 million while earnings before tax went to €1.1 million. In 2005 company has an even more aggressive plan to try to ship 150,000 units in Europe and to double its sales to €60 million.
more @ http://www.theinquirer.net/?article=21050
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