TC TECH announces that the company will establish a subsidiary in Taiwan
TC TECH Sweden AB (publ) announces that the company’s board of directors today has resolved that the company is to establish a subsidiary in Taiwan. This subsidiary will include market and sales resources, as well as a test and evaluation centre with production system in a cleanroom environment. The establishment includes permanent on-site placement of personnel.
This establishment of a subsidiary is conducted in accordance with TC TECH’s clearly stated ambition to scale up the company’s market and sales operations in its most important market. The financing is secured, as TC TECH recently conducted a directed share issue from which the company received approx. 10.6 MSEK in cash.
”This establishment of a permanent presence and testing capacity will enable us to come much closer to our existing and potential customers in Asia. It will also significantly reduce our lead times within testing and evaluation, while also enabling potential customers direct access to our system on a whole new level. This is expected to contribute to more efficient sales processes, including in innovative areas where development is progressing rapidly, such as the segment for diffusers (light-spreaders) to mini-LED based displays,” says TC TECH’s CEO Alexander Luiga.
For further information, please contact:
Alexander Luiga, C.E.O., TC TECH Sweden AB (publ)
Tel: +46 (0)8-788 08 01
Email: alexander.luiga@tctech.se
www.tctech.se
This information was submitted for publication through the agency of the contact person set out above, at 18.30 C.E.T. on February 24th 2021.
About TC TECH
TC TECH is an innovative high-tech company that has developed its very own system for the production of advanced plastic details with nano patterns. Operations are based on an IPR-protected induction technique that makes it possible to heat and cool material – rapidly and with high precision. Initially, TC TECH has chosen to focus on systems for the production of so-called Light Guide Plates (LGP) for screens and displays. TC TECH has its statutory seat and head office in Stockholm (Spånga), Sweden, where also R&D operations are based.
The TC TECH share is listed on Nasdaq First North Growth Market.
Arctic Securities is the company's Certified Adviser, email: certifiedadviser@arctic.com, tel: +46 844 68 61 00.