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Sharp aims to sell plants in Mexico and China

Tuesday, August 21, 2012

Embattled Japanese TV maker Sharp may cut a further 3,000 jobs on top of the 5,000 already announced by selling two television assembly plants to Taiwanese partner Hon Hai Precision Industry.

Sharp will sell TV factories in China and Mexico to Hon Hai. Each employs 1,500 workers.

The sale of assembly plants is the latest in a string of additional steps the troubled TV maker is mulling to curb costs and satisfy bankers it needs to stay solvent.

Source: Reuters