Taiwan Chunghwa Picture Tubes Declares Bankruptcy : Display Production Once Ranked in the World’s Top 3

Chunghwa Picture Tubes, a unit of Taiwan’s Datong Group, has declared bankruptcy and taiwan authorities will pay their wages first. The island’s media said it was the highest and largest number of cases in Taiwan’s history. Taiwan’s “United Evening News” said on the 20th, Huaying in August and September wages have not been paid in accordance with the contract, a total of 1842 workers are owed wages, “Labor Ministry” advance fund will be advanced, rough estimate of about T$800 million, at the latest before next year’s Spring Festival to pay employees.

Taiwan Huaying Company Declares Bankruptcy Display Production Once Ranked in the World's Top 3

It is understood that Taiwan’s “Labour Law” provides that workers are accumulated wages, pensions and expenses can be advanced by the “advance fund”. There are “Labor Ministry” officials said that Chunghwa Picture Tubes’s land situation is actually good, to Yangmei factory, for example, the latest valuation of land plant has more than T$4 billion, but the legal mortgage rights only about 2 billion yuan, so Chunghwa Picture Tubes processing assets is not difficult.

Chunghwa Picture Tubes,, was founded in May 1971, is the world’s most important display manufacturing plant and the island’s “panel five tigers” one. It is an important manufacturer of key component imaging tubes for early research and development of video products in Taiwan, with display production being among the top three in the world and thus pushing Taiwan onto the world stage of the “Display Kingdom”. In 1997, Chunghwa Picture Tubes introduced Japanese technology, which opened the way for Taiwan’s display to enter the plane. Some island media even called it “the Whampoa Military Academy of the monitor”.

In March, Chunghwa Picture Tubes announced 2,500 job cuts, more than half of the plant’s 4,500 workers, the largest-ever job cuts in Taiwan’s panel industry, causing shock on the island. In September this year, Chunghwa Picture Tubes’s land, plant, machinery and equipment assets were seized by the court, unable to continue to operate production. “Union News” comments that Taoyuan City this year has been out of Chunghwa Picture Tubes, Runtaiquan, Jialianyi, Dingying Technology factory, such as layoffs or closure of factories, many small and medium-sized enterprises factory frequent closure. The article holds that the island’s water shortage, lack of electricity, lack of work, lack of land, lack of talent “five shortage” problem is not solved, the future of the island is not optimistic.

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