DEBT-RIDDEN: A Chunghwa Picture Tubes Co official said there is no time frame for resuming fab operations, but that they would resume after supplier negotiations
Taipei Times
Date: Dec 18, 2018
By: Lisa Wang / Staff reporter
Debt-ridden LCD panel maker Chunghwa Picture Tubes Co (CPT, 中華映管) yesterday said it is negotiating with key component and material suppliers as it works to restore operations under a restructuring scheme.
The 47-year-old company was forced to shut down its two fabs in Taoyuan’s Longtan (龍潭) and Yangmei (楊梅) districts over the weekend, as suppliers withheld materials for fear of not being paid.
The company on Friday said it submitted a restructuring plan to Taoyuan District Court as it could no longer pay its debts.
“Since then, we have started negotiating with suppliers to continue receiving materials,” an investor relations and public communications department official said by telephone.
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