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Rakon Ltd Announces Strategic Partnership With ZheJiang East Crystal Electronic Co Ltd


Thursday, 4 Jul 2013 08:27pm EDT 

Rakon Ltd and ZheJiang East Crystal Electronic Co Ltd announced that they are to establish a strategic partnership targeting the smart wireless device (SWD) market. ECEC will acquire from Rakon 80% of the shares in Rakon Crystal (Chengdu) Co. Limited (RCC), the owner of the manufacturing facility in Chengdu, China for US$18.8 million. The acquisition will result in a new joint venture of RCC with Rakon holding 5% and existing joint venture partners continuing to own 15%. A Cooperation Framework Agreement signed by the two companies will see Rakon and ECEC working together in the areas of technology, capital, management and markets for SWD by sharing resources and capabilities. 

Company Quote

0.24
-0.0050 -2.04%
25 Jul 2014