Ritek to set up new subsidiary in China

October 15, 2004

GristyMcFisty our "CD News Freak" used once more our news submit to tell us some interesting news
about one of the worlds largest optical disk producers. Ritek has
offically obtained the permission to establish its 3rd subsidiary manufacturer
in China. Protec Optoelectronic, a producer of TFT-LCD components and packing
cases will get an initial investment of US $15 million from RitekÂ´s
subsidiaries Prorit Corporation, a producer of packing cases and Arewood
International, a holding company.

Ritek, the second-largest producer of optical discs in Taiwan, on October 14 announced that it has obtained official permission from the Taiwan government to establish a subsidiary manufacturer of TFT-LCD components and CD packing cases, Protek Optoelectronic, in Kunshan, China, with an initial investment of US$15 million.

The investment will be made indirectly through two Ritek subsidiaries, Prorit Corporation and Arewood International. Prorit manufactures packing cases and other accessories for optical discs, while Arewood is a holding company registered in the British Virgin Islands.