Sony has announced it's to sell its TV factory near Barcelona, signalling the company's exit from LCD TV manufacturing in Europe.
The plant, known as Sony Barcelona Tec and with around 1100 staff, will be sold to two Spanish companies – one based in the manufacture of parts for the automotive industry, the other in the infrastructure, services, engineering and systems sector.
The production facilities will run by car parts manufacturer Ficosa International, while development and engineering will be owned by a joint venture between Ficosa and COMSA EMTE.
The production facility will continue to supply TVs to Sony under contract for two years, while the two divisions seek to develop new business.
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Sony says it expects to make a loss on the sale, which it aims to complete before the end of this year. It will now concentrate in-house LCD TV production at its plants in Japan, China, Brazil and Malaysia.