Multidisplay s.r.o

Type
Business expansion
Country
Czechia
Region
Česko; Střední Morava; Olomoucký kraj
Location of affected unit(s)
Hranice
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
2,000 jobs
Number of planned job creations
Job creation
Announcement Date
23 February 2007
Employment effect (start)
Foreseen end date

Description

In February 2007, it was reported that Dutch developer CTP became a new owner of the plant Multidisplay s.r.o. (former LG.Philips Displays Czech Republic s.r.o.) in Hranice. The priority of the new owner was to continue the production of tubes and maintain the current number of employees. In January 2006 the parent company LG.Philips Displays Holding B.V. from the Netherlands announced bankruptcy. As a consequence, the Czech subsidiary plant in Hranice became an independent and separated company in respect with its operation. Successful sale of the plant concluded the restructuring process. The plant managed to maintain the existing jobs. CTP was considering significant investments into their new facilities. After further development, the Hranice technology park should have offered employment opportunities for up to 2000 people.

Sources

  • 23 February 2007: Lidové Noviny

Citation

Eurofound (2007), Multidisplay s.r.o, Business expansion in Czechia, factsheet number 64970, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64970.