Oh my God - i do emit

June 23, 2006]

''Hon Hai Acquires Premier Image for NT$28.2 billion

(Taiwan Economic News Via Thomson Dialog NewsEdge) Taipei, June 23, 2006 (CENS)--Hon Hai Precision Industry Co. Ltd., Taiwan's largest privately owned enterprise, recently announced it will acquire the world's largest contract manufacturer of digital still cameras-Premier Image Technology Corp.-through a share-swap transaction in an NT$28.2 billion (US$881.25 million at US$1:NT$32) deal
Through the acquisition, Hon Hai will be able to consolidate optical, electronic device, and electrical machinery manufacturing under one roof. By doing so, digital still cameras will become one of Hon Hai's three largest consumer electronics lines, in addition to game consoles, such as the PS2 and PSP, and the "iPod" digital music players

Terry T.M. Guo, chairman of Hon Hai, said mergers and acquisitions would be the most important tool for his company in securing revenue growth. Currently, the company has six teams focusing on merging with and acquiring other business units

As Taiwan's largest contract manufacturer of digital still cameras, Premier shipped 10 million of the products last year, and the volume will likely grow to 15 million this year to replace Sanyo of Japan as the world's largest contract manufacturer in the field

At present, Premier rolls out digital cameras for brands such as Sony, Fuji, Olympus, and Pentax. The company is also the major supplier of camera-phone lens modules for many well-known cellphone brands worldwide. With sales reaching NT$35.9 billion (US$1.12 billion) last year, Premier has set a goal of NT$50 billion (US$1.56 billion) in sales this year''

http://www.tmcnet.com/usubmit/2006/0...