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Posted: May 4, 2010
AU Optronics and Haier to Establish a Joint Venture for TFT-LCD Module Plant
(Nanowerk News) AU Optronics Corp. held a meeting of the Board of Directors on April 29, 2010, at which the Board approved a proposition establishing a joint venture of TFT-LCD TV panel module production with Haier Group (Haier) in Haier Industrial Park, Qingdao, Shandong. This is a demonstration for AUO to realize the practice of the new business model. Forming a strategic alliance with China's best value branded customer will bring a win-win result to both Haier and AUO.
The Board of Directors of AUO and that of Haier approved that the joint venture will be named "Qingdao Haier Optronics Co., Ltd" with a registered capital of US$ 7 million. Haier and AUO will own 70% and 30% of the shareholding of the joint venture company, respectively.
If the investment plan is approved by the relevant authority, the joint venture is expected to form closer ties between AUO and the Chinese local brand maker, deepening AUO's presence in northern China, in addition to the Company's existing business presences in eastern China, southern China, and western China.
About AU Optronics Corp.
AU Optronics Corp. (AUO) is a global leader of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches. AUO generated NT$359.6 billion (US$11.3 billion) in sales revenue in 2009 and now houses a staff of more than 42,000 employees throughout its global operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to successfully list at the New York Stock Exchange (NYSE). AUO extended its market to green energy industry in the end of 2008, and formally founded The Solar Photovoltaic Business Unit in October, 2009.