Lithuania's Ekranas, the only TV tube manufacturer in the Baltic States has signed a long-term contract with the Japanese electronics giant Toshiba Corporation.
Published:
6 November 2000 y., Monday
Lithuania's Ekranas, the only TV tube manufacturer in the Baltic States has signed a long-term contract with the Japanese electronics giant Toshiba Corporation for the production of new TV tubes, the Lithuanian company said.
Under the contract Ekranas will purchase license from Toshiba and launch the production of 21" fully flat picture tubes under the trademark "Ekranas." "The new products will be introduced onto the market as soon as at the end of 2002, and mass production will begin in 2003," said Angelija Zokaitiene, head of the company's Investment Unit. Ekranas has already started installing new TV tube production equipment.
The company will invest its own profits and loans from the International Finance Corporation (IFC) and the Japanese bank Sun Trust in the project, valued at around 35 million US dollars. The IFC has provided a 15-million-dollar loan to the Lithuanian company, and Sun Trust is expected to loan up to 7.5 million dollars. Ekranas, based in the central Lithuanian town of Panevezys, announced a non-audited profit of 45 million litas (USD 11.3 mln) on sales of 328 million litas (USD 82 mln)for the first nine months of 2000. The company hopes to further increase its profit in the coming years, Zokaitiene said.
Šaltinis:
Ekranas
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »