Gainward brandname sold to Palit

The Taiwanese firm TNC Industrial decided to sell the Gainward brand and Gainward Europe branch to Palit Microsystems for $1 million and the net worth of the branch office at the and of 2004.

TNC is a leading Taiwan maker of nitrocellulose fibers and holds a 69% stake in Gainward. Continued losses at Gainward over the past two years forced TNC to decide to sell off its graphics-card business, while re-focusing its efforts on its core electronics-related chemical business, said the sources.

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