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
Mr. Olli Rehn, European Union Commissioner, and Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following joint statement on Greece.
more »
The offering of shares of the new issue will commence on 03-05-2010.
more »
The World Bank today approved a $12 million IDA credit to Bhutan, designed to improve infrastructure services in parts of the capital city of Thimphu where no formal services are currently available.
more »
Fisheries ministers and stakeholders alike will be discussing the future shape of the EU's Common Fisheries Policy at two major events in Spain over the next days. On 2 and 3 May, in La Coruña, the Commission and the Spanish Presidency are organising a large stakeholder conference on the reform of the Common Fisheries Policy.
more »
Asia is leading the global recovery and the region’s contribution to global growth will continue to exceed that of other regions in the next two years, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific.
more »
The EBRD is supporting the modernization of the electricity distribution network and the development of renewable energy sources in Poland with a PLN 800 million loan (equivalent to approximately €205 million) to the Energa energy group in order to help the company strengthen its power grid.
more »
At the beginning of the summer this year, Vilnius will become the capital of the Baltic Sea region. On 1-2 June 2010, the city will host the Baltic Sea States Summit and the Baltic Development Forum (BDF) Summit.
more »
Visitors of the World Expo 2010, which will open in the Chinese city of Shanghai on May 1st under the slogan “Better City, Better Life” and will last for 184 days until the end of October, are kindly invited to get into a hot air balloon at the Lithuanian Pavilion.
more »
According to preliminary data, unaudited net loss sustained over the first quarter of the year 2010 by SEB Bank is LTL 59,4 million (EUR 17,2 million) and that by SEB Bank Group is LTL 80,3 million (EUR 23,3 million).
more »
European Globalisation Adjustment fund (EGF) aid must be delivered faster and more simply to unemployed workers hit by the financial crisis or globalisation, concluded the Budgets and Employment committees after evaluating the fund on Wednesday.
more »