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TAIWAN INVESTORS TO ACQUIRE 100 PERCENT INTEREST IN WANG MANUFACTURING SUBSIDIARY

 TAIWAN INVESTORS TO ACQUIRE 100 PERCENT INTEREST
 IN WANG MANUFACTURING SUBSIDIARY
 LOWELL, Mass., Nov. 13 /PRNewswire/ -- Wang Laboratories, Inc. (AMEX: QWAN.B, QWAN.C), announced today another step in its program to return the company to profitability and to successfully and timely emerge from Chapter 11 protection.
 Wang has signed a letter of intent with Rong Cheng Investment Company which represents a group of Taiwan investors. Under the proposed transaction the Taiwan investors will acquire all of Wang's remaining 70 percent interest in its Taiwan manufacturing subsidiary, Wang Laboratories Taiwan Ltd. In 1990, these investors had acquired a 30 percent interest in the subsidiary. The proposed transaction advances Wang's strategy of scaling back its manufacturing operations as it focuses more on developing advanced software products and services for the office.
 The Taiwan manufacturing subsidiary will continue to operate under a new name and as an independent company. It will have the right to use Wang's personal computer technology and will continue to manufacture personal computer products for Wang.
 As part of the same transaction, Wang will transfer a 49 percent minority interest in Wang Industrial Company Ltd., its Taiwan sales and marketing subsidiary, to the newly independent manufacturing company. Subject to certain conditions, an additional 2 percent interest could be transferred at a later time. Wang Industrial will continue to sell Wang products and services in Taiwan.
 In return for the ownership interests in the two subsidiaries, Wang Laboratories, Inc., and other Wang subsidiaries will be relieved of approximately $150 million in obligations to the Taiwan manufacturing subsidiary.
 Wang will continue to sell and service its customers in Taiwan through Wang Industrial Company Ltd.
 -0- 11/13/92
 /CONTACT: Frank Ryan, 508-967-7038, or Ed Pignone, 508-967-4912, both of Wang/
 (WAN) CO: Wang Laboratories, Inc. ST: Massachusetts IN: CPR SU:


GK-OS -- NY047 -- 0733 11/13/92 13:37 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 13, 1992
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