CP Technology, the company that is better known for its PowerColor brand-name, announced it planned change for the corporate brand-name. The new name reflects the company’s plans to expand its businesses and offer new product lines under a brand-name that is easy to remember and pronounce.

From now on, CP Technology will be called Tul Corporation. The Tul brand-name will also be used for all products and services provided by the company in dealing with the IT industry including SI, VAR, OEM, and ODM businesses. Although the company is changing its name to Tul Corporation, it will continue to use the product brand name of “PowerColor” for its graphics cards and mainboards.

“Tul is the new corporate brand-name for the company. We wanted to think of a new name that was short, phonetically powerful, and easy to pronounce”, said Ted Chen, CEO of CP Technology.

CP Technology was originally founded in October 1997 in Taipei, Taiwan. The firm’s revenue for 2003 were $500 million. The Compound Annual Growth Rate (CAGR) from 1998 to 2003 was 33%. Revenue for 2004 is forecasted to be $700 million.

“The name Tul™ was originally derived from the phrase ‘Technology UnLimited’. The “technology unlimited” concept is consistent with our business model of providing an extensive range of technology products and related solutions to customers around the globe,” the representative for Tul Corporation continued.

Tul Corporation will continue to release products for entry-level, mainstream and performance-mainstream markets, including PowerColor graphics cards and mainboards based on the latest chipsets. Additionally, Tul is expected to release notebooks, thin clients, Tablet PCs, PC barebobes as well as some other products later during the year.

Graphics card business is projected to be among the most important activities of Tul Corporation this year. The company plans to ship 500 thousand of graphics cards per month in 2004.