In yet another joint venture move by the major Japanese players, Matsushita and Toshiba are merging their cathode ray tube business to create the world's third largest CRT manufacturer behind LG Philips and Samsung. The joint venture company, expected to be in place by early next year, will be 60% owned by Matsushita and 40% by Toshiba. It is expected to have sales of around $2.2 billion, pushing Thomson Multimedia in France into fourth place. The two companies already have a joint venture in the liquid crystal display sector.
27-Sep-2002
