Picvue Announces Auction of LCD Glass Subsidiary Assets

Taiwan-based STN LCD maker Picvue Electronics on November 7 announced the opening of an auction for assets of its subsidiary Picvue Optoelectronics International (POI), a glass substrate maker, with the auction to end on November 14, according to a company filing with the Taiwan Stock Exchange (TSE).

The auction will include bids for equipment and precious metals at POI’s glass furnaces, with a guarantee fee set at NT$30 million (about US$913,938), the filing indicated.

The auction will be hosted by the Taiwan Cooperative Bank, which, along with six other banks, signed a NT$3 billion loan with POI on March, 2004, the filing said, adding that POI still has unpaid loans of NT$1.86 billion.

As of September, 31, 2006, Picvue had a 76.57% stake in PQI, the filing said.

In September, Picvue filed for reorganization with the Hsinchu District Court, according to a TSE filing by Picvue. Picvue also requested the court to issue temporary restrictions on fulfilling the company's obligations and considering claims against the company, according to the filing.

600450 Picvue Announces Auction of LCD Glass Subsidiary Assets glassonweb.com

See more news about:

Others also read

Recently, LandGlass was named as one of the “Outstanding Private Enterprises in Luoyang - High Growth Innovative Entities” by the CPC Luoyang Municipal Committee and the People’s Government of Luoyang Municipality.
On November 22, the municipal office of civilization and office of credibility held the “2018 Credible Private Enterprises” commendation conference at the 2nd floor conference room of the Luoyang city hall.
Permasteelisa S.p.A welcomes the LIXIL Group Corporation’s announcement about the agreement with Grandland Holdings Group Limited, a leading Chinese architectural design and construction company, to terminate planned Permasteelisa transaction.
Asia’s No. 1 fenestration exhibition - FENESTRATION BAU China 2018 (”FBC”) concluded on November 3, 2018 in Beijing.
Recently, a delegation from Guizhou Glass Association consisting dozens of members led by the association chairman Peihua Zhu, the standing vice-chairman Ronghui Li, and the secretary general Guangwei Xu visited LandGlass.
One Who Climbs Upon The Highest Mountains May Laugh At All Hardships.

From industry

No. 160 Yichuan Rd.,
Jiaonan Shi
Qingdao Shi
Shandong Sheng, 266000
China

Add new comment