Videocon Group acquires Thomson's CPT business
Pallab Bhattacharya, New Delhi
In yet another Indian firm going global, the Videocon Group has announced acquisition of the international colour picture tube (CPT) business of French electronic giant Thomson at a price of 240 million euros (about Rs 1272 crore).This would be the single largest overseas acquisition by an Indian company in consumer electronics sector. The acquisition, which will see management control of Thomson's four CPT plants in China, Poland and Mexico passing on to Videocon by September this year, will mean the exit of the French company from consumer electronic business worldwide. Thomson's colour television business was bought by Chinese electronics major TCL last year. The documents for the acquisition of Thomson's CPT business were exchanged between Videocon Group Chairman V N Dhoot and Thomson CEO Frank Dangeard at a function here on Wednesday. The four plants of Thomson, employing nearly 12,000 people, have a combined capacity to manufacture 19 crore colour tubes and four million colour picture tube glass units per year. Videocon plans to pump in $500 million in the next three years into the new venture including the acquisition which will be funded through domestic and international debt and equity market. The total annual sales turnover of Thomson picture tube business is around 850 million euros in a year.
| 
