Hitachi to Withdraw From U.S. Color Picture Tube (CPT) Market.Business Editors/High-Tech Writers GREENVILLE Greenville. 1 City (1990 pop. 45,226), seat of Washington co., W Miss., on Lake Ferguson, a deepwater harbor adjoining the Mississippi River; inc. 1886. , S.C.--(BUSINESS WIRE)--Feb. 28, 2002 Company to Sell CPT CPT See: Carriage Paid To Production Equipment to Thomson; Shift in Manufacturing Focus to Projection Tubes at Greenville, S.C. Plant to Reduce Plant Employment by 270 Hitachi, Ltd. (NYSE NYSE See: New York Stock Exchange :HIT) today announced it is withdrawing from color picture tube business in the U.S. as part of the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of its Display Products Group. As a result, Hitachi Electronic Devices (USA), Inc., Greenville, S.C. will shift its primary product focus to projection tubes used in projection TVs See rear-projection TV and front-projection TV. and sell its CPT production equipment to Thomson Multimedia. The action will result in a reduction in the company's workforce of approximately 270 production workers and support staff at the Greenville, S.C. plant and field locations. Thomson will transfer the CPT production equipment to its other manufacturing locations. In announcing the action, Yosuke Nakanishi, president and chief executive officer of Hitachi Electronic Devices (USA) Inc., said, "Changes in our markets have been dramatic and have necessitated a change in our manufacturing focus in the Greenville plant in order to improve the outlook for our operations. These market conditions have dictated dic·tate v. dic·tat·ed, dic·tat·ing, dic·tates v.tr. 1. To say or read aloud to be recorded or written by another: dictate a letter. 2. a. that we concentrate on tubes for large screen projection TVs, where we are the world's market leader and where there is strong future growth potential. As a result, the production of direct view color TV tubes Noun 1. color TV tube - a television tube that displays images in full color color television tube, color tube, colour television tube, colour tube, colour TV tube is being phased out." "The action will be effective by the end of April, 2002 and the affected employees will be given severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when commensurate com·men·su·rate adj. 1. Of the same size, extent, or duration as another. 2. Corresponding in size or degree; proportionate: a salary commensurate with my performance. 3. with years of service and health care coverage options. We are committed to the viability of our plant, and that means aggressively addressing the realities of the marketplace and seeking new opportunities to expand our business in profitable new markets. We are equally committed to taking care of our people as they make this difficult transition," said Mr. Nakanishi. The company will be pursuing new-product opportunities that will enhance the company operations. Hitachi Electronic Devices (USA) Inc., a subsidiary of Hitachi America, Ltd., manufactures and markets electron tubes, projection tubes, and LCD (Liquid Crystal Display) A display technology that uses rod-shaped molecules (liquid crystals) that flow like liquid and bend light. Unenergized, the crystals direct light through two polarizing filters, allowing a natural background color to show. display components. The Greenville plant was established in 1990. Hitachi America, Ltd. markets and manufactures a broad range of electronics, computer systems and products, consumer electronics and semiconductors, and provides industrial equipment and services throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information on Hitachi America, visit http://www.hitachi.com. Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading global electronics companies, with fiscal 2000 (ended March 31, 2001) consolidated sales of 8,417 billion yen ($67.9 billion(a)). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi's Web site at http://global.hitachi.com. Note (a): At an exchange rate of 124 yen to the dollar.
Outline of Hitachi Electronic Devices (USA), Inc.
Location: Greenville, S.C.
Capital: $141.0 million (March, 2001)
(100% owned by Hitachi America, Ltd.)
Business: Production and marketing of CPTs, projection
ray tubes and marketing of LCD panels
President
& CEO: Yosuke Nakanishi
Employees: 1,000
Outline of Hitachi America, Ltd.
Location: Brisbane, Calif.
Capital: $246.0 million (March, 2001)
(100% owned by Hitachi, Ltd.)
Business: Marketing and after-sales service of
electrical and electronic equipment,
and procurement of parts and materials
President: Yoshihiro Koshimizu
Employees: 6,000 (Consolidated)
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