China Electronics Corporation (CEC) is mulling the possibility to acquiring debt-laden LCD panel maker BOE Technology, according to media reports in China. BOE has incurred debts of over CNY8 billion (US$1.26 billion) over the past six years, with losses expected to continue widening due to the inauguration of its new 8G production line.

Five of BOE's major shareholders, all state-run enterprises, have expressed their willingness for CEC to take over BOE, according to the reports. CEC posted revenues of CNY160.8 billion in 2010. CEC-Panda LCD Technology, a joint venture between CEC and the Nanjing City Government, currently operates a 6G LCD panel production plant with a capacity of 60,000 substrates a month.

Source:digitimes