EPSON-IMAGING TRANSFERS SALES FUNCTION TO THE SONY GROUP

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EPSON-IMAGING TRANSFERS SALES FUNCTION TO THE SONY GROUP

 user 2009-12-21 at 10:32:12 am Views: 42
  • #23213

    EPSON IMAGING TRANSFERS SALES
    FUNCTION TO THE SONY GROUP

    Tokyo,
    dec 2009—-Seiko Epson Corporation (“Epson”) and Sony Corporation
    (“Sony”) today announced that as of December 1, the sales function of
    the small- and medium-sized TFT LCD business (excluding high-temperature
    polysilicon TFT LCDs, etc.) of Epson Imaging Devices Corporation
    (“Epson Imaging”) would be transferred to Sony and Sony Mobile Display
    Corporation (“SMD”).

    On June 30, 2009, Epson and Sony announced
    the execution of an agreement to transfer to the Sony group certain
    assets of the small- and medium-sized TFT LCD business operated by Epson
    Imaging. Placing foremost priority on the needs of its customers, Epson
    Imaging has continued its preparations as it has sought to transfer the
    sales function of that business to the Sony group by the end of the
    calendar year. As preparations are now complete, the sales function of
    that business will be transferred to the newly established SMD sales
    department and Sony group overseas sales offices on December 1. In
    accordance with this transfer, Epson Imaging will cease worldwide sales
    activities on November 30, and some of the staff employed in that
    business will be either transferred or seconded to the Sony group.

    Expediting
    the assumption of the sales function will allow the Sony group to
    create a powerful small- and medium-sized TFT LCD business with a broad
    product lineup and a structure capable of responding even better to the
    needs of its customers.The Epson group will work to assure a smooth and
    expeditious transfer, scheduled to be carried out by April 1, 2010, of
    certain manufacturing-related assets of Epson Imaging for that business,
    and will continue to work closely with the Sony group to facilitate the
    further growth and success of the small- and medium-sized TFT LCD
    business.

    About Epson and Epson Imaging
    Epson is a
    global imaging and innovation leader that is dedicated to exceeding the
    vision of customers worldwide through its compact, energy-saving,
    high-precision technologies, with a product lineup ranging from printers
    and 3LCD projectors for business and the home, to electronic and
    crystal devices. Led by the Japan-based Seiko Epson Corporation, the
    Epson group comprises over 70,000 employees in 108 companies around the
    world, and is proud of its ongoing contributions to the global
    environment and the communities in which it operates. See
    http://www.epson.co.jp/e/.Epson Imaging Devices Corporation is a leader of
    small- and medium-sized LCD products.

    About Sony
    Sony
    Corporation is a leading manufacturer of audio, video, game,
    communications, key device and information technology products for the
    consumer and professional markets. With its music, pictures, computer
    entertainment and on-line businesses, Sony is uniquely positioned to be
    the leading electronics and entertainment company in the world. Sony
    recorded consolidated annual sales of approximately $79 billion for the
    fiscal year ended March 31, 2009. Sony Global Web Site:
    http://www.sony.net/

    http://www.foxbusiness.com/story/markets/industries/industrials/transfer-epson-imaging-sales-function-sony-group/