As most of you know, the once mighty BenQ has fallen on hard times. While the
company has tried to cut its losses and return to profitability, sales have continued to decline. In response, the company has
announced plans to spin-off its branded business.
BenQ's Board of Directors convened today to approve a plan to spin-off its
branded business. The plan is a continuation of BenQ Group’s “Dual Core Competency Strategy”, which is to focus on the core competencies
of brand & services and manufacturing & technology to maximize competitiveness and efficiency. After the spin-off, BenQ Corporation will
be renamed Jia Da Corporation (temporary translation) and the spun-off company is scheduled to succeed the name of BenQ Corporation. The
spun-off company will be a 100% owned subsidiary of Jia Da Corp. and the change is expected to elevate the operating efficiency and
strengthen business competence of the BenQ Group.
The spin-off plan still needs to be approved by BenQ's shareholders. If
approved, the spin-off is expected to take place on September 1, 2007. More information is available on BenQ's website.
