Published date:2009-06-22
AUO Corporation ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) held a meeting of the Board of Directors on June 19th, at which the Board approved a proposition of establishing a TFT-LCD module production plant joint venture with Sichuan Changhong Electric Co., Ltd. in Gaoxing district, Mianyang City, Sichuan Province, China. If the investment plan is approved by the Government, the joint venture is expected to form closer ties between AUO and the Chinese local brand maker, deepening AUO’s presence in West China, in addition to the Company’s existing business presences in East China and South China.
The Board of Directors of AUO and Sichuan Changhong agreed the name of the joint venture will be BVCH Optronics (Sichuan) Corp. with capital of RMB $100 million (US $15 million) at the initial stage. The joint venture will be owned 51:49 by AUO and Sichuan Changhong and its businesses will include LCD monitors, LCD TVs, photonic products and relevant components production, process, assembly, as well as repair services.