The President Group of Taipei, Taiwan has effectively paid about $150m for the Wang Laboratories Inc operations in Taiwan. President has increased its stake in Wang Laboratories Taiwan to 100% from 30% and bought a 51% stake in Wang Industrial, which manufactures personal computers. President, which includes President Enterprises, Taiwan’s biggest processed food company, made the purchases through its affiliate, Rong Chen Investment. Rong Chen will pay Wang less than $300,000 cash, but will cancel obligations of about $150m the US parent owed one of the Taiwanese units. Wang Laboratories Taiwan has the right to use Wang’s trademark in Taiwan and will make personal computers for Wang.
