Sharp Corporation of Japan (Sharp) and Universal Media Corporation /Slovakia/ s.r.o. (UMC) have entered into a binding agreement related to transfer of SHARP’s audio and video business (AV) in Europe. The signatures follow a resolution at Sharp board of directors’ meeting earlier today.
UMC will be getting exclusive brand license rights for both the television business as well as the audio business in Europe. As part of the brand licensing, Sharp will support the design & development of LCD televisions produced and sold by UMC under Sharp brand.
As a part of transaction, UMC will be acquiring 100% shares in Sharp Manufacturing Poland Sp. zo.o. (SMPL), Sharp’s manufacturing base in Poland for LCD televisions, from Sharp. The transfer of business and sale is to be completed before the end of 2014.
UMC plans to revive the manufacturing volumes at SMPL. As such, UMC expects to hire additional staff to SMPL to support its sales plan.
UMC will sell the audio products manufactured by S&O Electronics /Malaysia/ Sdn. Bhd.(SOEM), Sharp’s manufacturing base in Malaysia for audio products.
This strategic alliance will enable UMC to further increase its sales and market share in Europe by expanding into an ‘’A’’ brand market segment, adding SHARP to an existing brand portfolio of Blaupunkt, UMC, Eternity & E-motion.
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