Chinese mobile phone maker BYD Electronic (International) Co. Ltd. has acquired a facility in Komaron, Hungary, to coat plastic mobile phone housings.
BYD Electronic purchased the plant from electronics molder Mirae Inc. of Changwon, South Korea, the companies announced Jan. 16.
BYD Electronic plans to double staff at the Komaron plant, which now employs about 300, as well as expand assembly work, according to a report from Hungarian news agency MTI.
Shenzhen-based BYD Electronic spun off from its parent firm, battery maker BYD Co. Ltd., in a December initial public offering on the Hong Kong Stock Exchange that raised US$758 million. The company told the exchange it wanted to spend HK$1.38 billion (US$176.8 million) on capacity expansions, including injection molding and painting, and HK$1.18 billion (US$151.5 million) to expand capabilities for design and plastic mold production.
BYD also said it planned to start operations in Chennai, India, and Huizhou, China, in the first quarter and in Romania in the second quarter.
The IPO was marred by a legal battle between BYD and rival Foxconn International Holdings Ltd. of Taipei, Taiwan, which filed a lawsuit accusing BYD of illegally obtaining confidential information.
About 75 percent of BYD Electronic's business in the first half of 2007 came from mobile phone maker Nokia Oyj, according to BYD.