Ritek 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.
The Taiwan government has allowed Ritek to invest a total of US$24 million in China, including this
investment project. This figure accounts for 21.85% of the company?s paid-in capital, 15.4% of total
assets and 21.55% of shareholders? current equity.
Ritek also has two existing subsidiaries, Hutek and Welltek, in Kunshan, and Protek will be the third