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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/
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