Jul 4 2008
TFT-LCD manufacturer BOE HYDIS is finally out of court receivership after its application in May of last year, and is making efforts to regain its position through management normalization.
BOE HYDIS (CEO Kim Il-Sun) announced on July 4 that it has received approval from the Seoul Central District Court on termination of court receivership.
BOE HYDIS, which entered the corporate rehabilitation process on May 31, 2007, has signed an M&A with Taiwan’s Prime View Consortium and has been working on finishing procedures to end legal management.
BOE HYDIS has experienced difficulties in sales, purchasing, and marketing due to the unstable conditions of the company after it entered court receivership.
Now that court receivership has ended, the company will be able to secure liquidity through improvements in its financial structure.
As well, it will look toward realizing stable profit improvements by firmly establishing its position in the market as a company specializing in technologically advanced small and medium-sized TFT-LCDs of high added value.
In particular, with the handicap of limited management situations, inevitable during court receivership, lifted, the company will seek to increase its competitiveness by coping quickly with market changes, conducting smooth investment activities, developing new products, and strengthening customer-orientated marketing.
Kim Il-Sun, CEO of BOE HYDIS, commented, “Through the M&A with Prime View Consortium, we will be able to secure a stable supply basis for the small and medium-sized TFT-LCD market such as cell phones, AV for cars, portable digital devices, e-paper, and etc. which is expanding every day.