Sony Corporation announced that it has formed a strategic alliance with Taiwan’s Hon Hai Precision Industry Co. Ltd. (Foxconn) for the production of LCD TVs for Europe.

According to the statement, Sony will sell to Hon Hai the majority of its shares in its Nitra factory (Slovak Republic), which currently manufactures LCD TVs for Europe. Following the sale, Hon Hai will hold 90% and Sony will retain 10% of the shares in the factory.

The employees will be assumed by Hon Hai and the Nitra factory will continue to be a key location for the production of Sony LCD TVs for Europe. In addition, Sony Supply Chain Solutions Europe, a wholly-owned subsidiary of Sony, will lease a portion of the factory, which will remain a logistics center of Sony Group in Europe.

The parties intend to complete the sale by the end of September 2010, subject to regulatory approvals in several countries.

Overview of Nitra factory (Sony Slovakia, spol. s r o.)
Location: Nitra City, State of Nitra, Slovak Republic
Date established: August 2007
Number of employees: Approximately 2,500 (as of February, 2010)
Site area: 54ha
Key products: LCD TVs and related components

For more information visit: www.sony.net