CWE Leaves TESS Board to Establish New LED Company

Chang Wah Electromaterials (CWE) announced recently it will withdraw from Top Energy Saving System’s (TESS) board. CWE planned to take over TESS management and acquire the company, but has called off the merger deal since TESS former Chairman Tsai Wen-Kuei's suspected violation of Taiwan’s Securities and Exchange Act, said CWE Chairman and President Huang Chia-Neng.
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