Compal to buy Toshiba's LCD TV facility in Mexico

TAIPEI, TAIWAN: The world's second-largest contract PC notebook maker Compal Electronics Inc said on Wednesday that it has entered into contract to acquire Toshiba Corp's LCD television manufacturing facility in Mexico.

"By acquiring TMX (Toshiba Electromex), Compal looks forward to expanding LCD TV manufacturing flexibility, a diversified sales mix, and revenue growth momentum in the future," the company said in a statement.

No financial details of the deal were available and the deal was subject to regulatory approvals. The deal is expected to be completed by the end of the third quarter of 2011.