TMCnet News

Great Wall Computer invests 1.2 mln USD in Algerian JV
[May 25, 2009]

Great Wall Computer invests 1.2 mln USD in Algerian JV


BEIJING, May 25, 2009 (Xinhua via COMTEX) -- China Great Wall Computer Shenzhen Co., Ltd. (Great Wall Computer, 000066.SZ) announced May 24 its cooperation with Algerian broadband network operator EEPAD for establishing a joint venture in Algeria requiring 40 million US dollars.



Great Wall Computer contributed 12 million dollars, accounting for about 30 percent of the total equities.

Besides, the domestic computer manufacturer's procurement application for a 99 percent stake in China Great Wall Computer (Hong Kong) Ltd. was approved by the Ministry of Commerce on May 22.


As a result, Great Wall Computer will control 26.58 percent of the shares in Taiwan-based Envision Monitors, a display manufacturing giant, indirectly, vs. the 27.25 percent equity held by the latter's largest shareholder Koninklijke Philips Electronics.

The computer maker aims to strengthen its computer business and accelerate the exploitation of oversea market by grabbing the market opportunity of netbook, a small portable laptop computer designed for wireless communication and access to the Internet.

The joint venture plans to produce 100,000 units of netbooks in the first year, and 200,000 units in the second year. Its annual production capacity will reach 500,000 units in the final.

Zhou Gengshen, president of Great Wall Computer, expects a 50 percent growth in the company's computer set business this year, and hopes the company to rank among China's top three homemade PC makers and become No. 1 PC exporter in the country.

[ Back To TMCnet.com's Homepage ]