March 31, 2003 in Social Responsibility News

SEC takes over equity in Shandong Samsung Telecom Co.,Ltd. (SST) from its joint venture partner, the SDPTA

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SEC plans to acquire the SDPTA's equity in SST (printer production
corporation in China) in an attempt to expand its business operation in
the emerging market and further advance its global-production strategy.






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SEC will acquire SDPTA's equity (19% in total) at $8.1 million
· SEC will hold 88% ($28.6 million) of the equity of SST, up 19% from the
current 69% ($20.5 million) after the take-over.






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The acquisition contract will be made on April 7, 2003






※ Details of SST





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SEC will set up SST, joint venture with the SDPTA, to advance

into the Chinese switchboard market in March 1993.

· SST stopped the production of switchboards in 1999, instead, started manufacturing
printers and fax machines in 2000.






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Paid-in-capital: SEC's contribution amounts to $20.5

million (69%), the SDPTA $5.7 million (19%), and Weihai Beiyong Electronic
Group Co., Ltd. $3.6 million (12%)


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