Tvia, Inc. is Reorganized and Back to Business

SANTA CLARA, Calif., Aug. 3 /PRNewswire/ -- Tvia, Inc. announced today that it has been reorganized out of Bankruptcy: the company is now debt-free; a new Board of Directors has been elected by the shareholders; and Mr. Zhaofang Wen has been appointed as the CEO by the new board.

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The reorganized Tvia will continue its business in semiconductor video processors.  "We are fully committed to supplying to and supporting world-wide customers of Tvia's existing chips, including CyberPro 5202, and TrueView 5600/5605/5715/5725 chips," said Mr. Wen. "Going forward, we will also seek other business opportunities to grow the company," Mr. Wen continued.

Tvia will continue to have its US headquarter in the Silicon Valley, California.  In addition, Tvia has three subsidiary sites in China, including Hefei, Shenzhen, and the newly opened subsidiary in Zhuhai.

About Tvia, Inc.

Tvia, Inc., headquartered in Santa Clara, California, with wholly-owned subsidiaries in China, is a fabless semiconductor company that designs, develops, markets and supports semiconductor display processors for the video processing market.  Its products include CyberPro 5202, the TrueView 5600/5605 series, and the TrueView 5700/5705/5715/5725 series.  Tvia's products are used in LCD TV, set-top boxes, security surveillance DVR, flight entertainment systems, and various video format converters.

CEO Bio

Zhaofang Wen has a substantial background in high-tech and holds a Ph.D. in computer science.  He has over 20 years of full-time work experience, including five years in the academia, nine years in the industry (including Hewlett-Packard and two digital signal processing chip startups in the Silicon-Valley, as a principal staff engineer and system architect), and seven years in a US national research institution as a project manager and principal research scientist.  

Mr. Wen served as the Chair of the Official Shareholder Committee during Tvia's bankruptcy proceedings.  He led the efforts to resolve all the liabilities and developed the Chapter 11 Plan of Reorganization, which successfully brought Tvia out of bankruptcy.  Recently, he was elected to Tvia's new Board of directors, and also appointed the CEO of the Reorganized Tvia.

SOURCE Tvia, Inc.

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