AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) held a meeting of the Board of Directors on March 12, 2010, at which the Board approved a resolution establishing a joint venture of TFT-LCD module production and TV-set ODM with TPV Technology Limited in Gorzow, Poland, with a view to provide closer services to customers and to develop the European market. If the investment plan is approved by the relevant regulatory authorities, the joint venture will be another strategic alliance for AUO and its partner as well as a new operation model to supply international brands locally. Meanwhile, it is the third module plant for AUO to develop the European market with more complete on-site services after establishing manufacturing sites in Czech and Slovakia.
The Board of Directors of AUO and TPV Technology approved, on the basis of strategic alliance, to set up a joint venture company combining TPV's well-branded image and business infrastructure in the European market, and the strength of AUO's leading technology in TV panel manufacturing. The joint venture will be named “BriVictory Display Technology (Labuan) Co., Ltd” with an initial capital of US$ 40 million. AUO and TPV will own 51% and 49% of the shareholding of the joint venture company, respectively.
"AUO has devoted to providing customers value-added services, including integrated design and product total solutions," AUO's Chairman, Mr. K. Y. Lee said. “TPV has very strong competence in LCD TV manufacturing in the European market. With TPV's excellent capability in product assembly, AUO hopes to leverage on TPV to enhance its business position in the European market. This joint venture would bring both superior competitiveness into full play and bring mutual benefits in the long run.”
Dr. Jason Hsuan, TPV's Chairman and Chief Executive Officer, said,“TPV is one of the world's leading PC monitor makers and the largest LCD TV ODM company. We are glad to have AUO to be our strategic partner for further developing the European market. AUO has been a world class panel manufacturer that continually dedicates to new technology innovation. Both companies closely worked together in the past. We not only can gain stable panel supply from the cooperation but also can enlarge the cooperation to system assembly for increasing operation efficiency to provide better services to European customers in the future.”
Corporate Communications Division
AU Optronics Corp.
No.1, Li-Hsin RD 2, Science-Based Industrial Park,
Hsinchu City 300, Taiwan, R.O.C.