TOKYO (dpa-AFX) - Toshiba Corp. (TOSYY.PK, TOSBF.PK) said it has reached an agreement with China-based Skyworth on the sale of PT Toshiba Consumer Products Indonesia, the company's manufacturing base for TVs and twin-tub washing machines.
The sales price is estimated to be $25 million, or 3 billion yen. The company plans to complete the sales by 2016.
The agreement will give Skyworth a license to use the Toshiba brand name in Asia, excluding China.
At the same time as the company transfers the TV manufacturing plant, it will close down the washing machines manufacturing unit located on the same site, and sell the land and the production facilities.
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