Barco has signed agreement to acquire full ownership of Beijing based joint venture Barco Leyard
Beijing, 13 September, 2006. Barco has signed an agreement to acquire the remaining 20% of the shares in the joint venture “Beijing Barco Leyard Electric Technology Co Ltd”. Barco set up this 80% - 20% joint venture in 2003 through the acquisition of assets of Beijing Leyard Electronics Technology Co Ltd. The option for Barco to acquire full ownership of Beijing Barco Leyard Electric Technology Co Ltd was part of the original agreement in 2003. Today’s operation will not have a material effect on Barco’s financial results.
With the acquisition of the complete full color LED assets of Beijing Leyard Electronics Technology in 2003, Barco continued its geographical expansion in Asia and gained considerable access to the growth market of China. The 80% - 20% joint venture further allowed Barco to take full advantage of China’s booming economy and of upcoming events such as the Beijing 2008 Olympics and the Shanghai World-Expo 2010, all requiring visualization solutions offered by Barco.Since 2003 Barco Leyard has developed into the headquarters of the Media business of Barco’s Media & Entertainment division, serving the world wide outdoor advertising and sports markets.
About Barco
Barco, a global technology company headquartered in Kortrijk, Belgium, designs and develops visualization products for a variety of professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific.
For fiscal year 2005, Barco posted net sales of euro 712.0 million.
Barco’s ordinary shares are listed on the Brussels/Euronext stock exchange. Barco is a BEL 20 and a Next 150 company. Share information may be accessed on Bloomberg under the symbol BAR BB and on Reuters under BARBt.BR.
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