ZENITH ANNOUNCES PLANS TO RESTRUCTURE TAIWAN OPERATIONS
ZENITH ANNOUNCES PLANS TO RESTRUCTURE TAIWAN OPERATIONS GLENVIEW, Ill., Nov. 11 /PRNewswire/ -- Zenith Electronics Corp.
(NYSE: ZE) today announced plans to restructure its Zenith Taiwan Corp. subsidiary beginning in April 1992.
The restructuring, which includes a shift from manufacturing to purchasing operations, will mean a reduction in employment for Zenith in Taiwan. However, Charles J. Sindelar, president of Zenith's Display Division, said the company's commitment to Taiwan remains strong. "Zenith plans to maintain a considerable amount of business in Taiwan, sourcing millions of dollars of monochrome picture tubes and other components there annually," he said. As part of Zenith's major cost-reduction programs, the company plans to consolidate assembly of high-resolution monochrome computer monitors with the company's color monitor assembly facilities in Mexico next spring, Sindelar said. Zenith has developed another Taiwan source to support Zenith's customers for low-resolution monochrome monitors. The moves will eliminate approximately 600 hourly and salaried positions at Zenith Taiwan Corp.'s Chungli plant. Earlier this year, Zenith sold the plant (to a private Taiwanese investor) and paid severance benefits to employees; an additional severance payment will be made after production ceases next April. Zenith Taiwan Corp. plans to move to a new location in Taiwan when its current one-year lease expires in June 1992. -0- 11/11/91 /CONTACT: John I. Taylor of Zenith, 708-391-8181/ (ZE) CO: Zenith Electronics Corp. ST: Illinois IN: CPR SU: RCN TS -- NY021 -- 2905 11/11/91 09:25 EST
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|Date:||Nov 11, 1991|
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