Saturday, June 24, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google Promises to Stop Reading Your Emails in Gmail
BlackBerry's Software and Services Sales Fell in Q1
Handsets Expected to be Largest Market for ICs
G.SKILL Announces New DDR4 for the Intel X299 HEDT Platform
Toshiba Open to Further Talks With Western Digital About Chip Unit Sale
Foxconn Confirms US Investment Plan
Tesla Could Enter the Music-Streaming Business
Youtube Unveils New VR180 Format
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Optical Storage > TSST Ko...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, May 12, 2016
TSST Korea Initiates Rehabilitation Proceedings


Toshiba Samsung Storage Technology Korea (TSST-K), a subsidiary of Toshiba Samsung Storage Technology (TSST), today filed for corporate rehabilitation proceedings with the Seoul Central District Court.

TSST is a joint venture between Toshiba Corporation and Korea’s Samsung Electronics Co., Ltd. (Samsung), and a Toshiba Group company, with 50.1% of its outstanding shares held by Toshiba.

The court will announce its decision on corporate rehabilitation proceedings within a month from today’s date. Unless the court dismisses TSST-K’s filing, TSST-K’s management will then meet with its creditors and other interested parties and present the corporate rehabilitation plan.

TSST was established as a joint venture between Toshiba and Samsung, with the parent companies holding 51% and 49% of the company's stock, respectively.

TSST-K was subsequently established as a wholly-owned subsidiary of TSST, and engaged in the optical disc drive (ODD) business. As demand for ODD has fallen, resulting in a significant deterioration in TSST-K’s performance, Toshiba decided in March 2014 to withdraw from the
ODD business, and to carry out a series of stock transactions that would transfer full ownership of TSST-K to Korea-based OPTIS Inc. (Optis) by 2017.

Based on this agreement, 49.9% of TSST-K's stock has been transferred to Optis. However, Optis's management initiatives and efforts to rebuild the business have been undermined by deep declines in product demand and prices.



Previous
Next
LG's New Active Camera WIll Live Stream Video Over 4G        All News        Foxconn's Wu Becomes Sharp's New President
Verbatim Launches 100GB MDISC Blu-ray Storage Media     Optical Storage News      Sony's Second Generation Optical Disc Archive System Is Faster And Goes Up to 3.3 TB

Get RSS feed Easy Print E-Mail this Message

Related News
EU Fines Optical Disc Drive Makers €116 million For Cartel
HLDS, TSST Face EU Antitrust Fines
Optical Drive Makers Face EU Antitrust Fines
TSST Sells Its Optical Drive Business To Korean OPTIS
Taiwan FTC fines ODD Makers For Cartel
Free Nero 9 Upgrade To Samsung ODD Owners
TSST Released New 24x DVD Burner, BD Combo For Windows 7 Systems
Hitachi, Toshiba, Sony Receive Subpoenas in Optical Disk Inquiry
12x DVD-R DL Tests Added to TSST SH-S203D Review
TSST Releases 18x Super-Multi DVD Burner
Samsung Plans to Sell 60 million ODD Products in 2006
New 16x DVD-RAM Discs Incompatible With Previous DVD-RAM Burners

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .