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TPV says no plan to alter CMO relationship

Mon Nov 16, 2009 7:36pm EST

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HONG KONG, Nov 17 (Reuters) - TPV Technology (0903.HK) said it has no plan to alter its strategic relationship with Chi Mei Optoelectronics Corp (3009.TW) (CMO), which will continue to supply the Chinese television maker with monitors and TV panels.

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TPV said it made the statement in response to rumours in Taiwan that it aims to "sever its strategic relationship" with CMO and redirect the portion of its panel procurement to other suppliers. It gave no further details.

For statement please click here

TPV had said earlier in November that it would set up joint ventures with LG Display Co Ltd (034220.KS) to produce LCD television and monitors in China involving total investments of $84 million. (US$1=HK$7.75) (Reporting by Donny Kwok; Editing by Ken Wills)

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