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Hynix to sell LCD unit to China's BOE.
(From CMPnetAsia.com)
Byline: SBN team
South Korea's Hynix Semiconductor has signed a preliminary agreement to sell Hydis, its flat panel display unit, to China's BOE Technology Group Co. for about US$380 million, according to a Dow Jones Newswires report today.
The cash is required to help Hynix, crippled with enormous debt, to stay in the memory chip business, the report said.
"Selling our non-core TFT-LCD (thin film transistor liquid crystal display) operations represents significant progress in our restructuring efforts and it will allow us to invest in our …
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