Lite-On Technology Announces Restructuring Plan

Taipei, Sept. 8, 2010 (CENS)--Lite-On Technology Corp., a leading provider of imaging products, enclosures, power supplies and LEDs, recently announced its restructuring plan, to refocus the maker on trendy industries and raise the whole Lite-On Group's revenue to US$12.5 billion by 2013.

According to Lite-On, David Lin, incumbent group CEO, will serve instead as vice chairman of the Lite-On Group as well as chairman of Lite-On Green Technologies and Lite-On Clean Energy, leading the group's strategic growth committee.

Incumbent group deputy CEO Warren Chen has been named as Lite-On Group CEO, to handle the Group's core investment management. Lite-On Technology's incumbent CEO K.C. Terng will serve as Lite-On Group deputy CEO, continuing to lead Lite-On Technology as CEO, as well as the subsidiaries of power-supply businesses.

According to G.Y. Song, Lite-On group chairman, the group restructuring plan aims to achieve more precise division-of-labor for the future group development over the next three to five years. Lite-On will focus on new energy, new lighting source, and new propulsion power businesses over the next three to five years, Song said, including high-power LEDs, solar energy, Photovoltaics (PV) inverters, high-efficiency power supply systems, and automotive electronics.

Lin stressed that the automotive electronics business is generating very lucrative opportunities for Lite-On group. Lite-On Automotive currently produces many automotive electronics products, including engine management system (EMS), LED auto lamps, navigation system, security/safety systems etc. The subsidiary now registers annual revenue of about US$187.5 million, which is expected to grow 360% to about US$687.5 million by 2013.

Lin added that now is the best time for the LED business, which is expected to generate for Lite-On Group this year revenue of US$578.1 million, with such value to grow to US$1.56 billion by 2013.