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AUO signs up two LCD plant JVs

Posted: 05 May 2010     Print Version  Bookmark and Share

Keywords:LCD  AUO LCD JV  panel module 

In two separate deals AU Optronics Corp. has formed two TFT-LCD TV panel module production joint ventures, one with TCL King Electrical Appliances Co. Ltd and the other with Haier Group.

The Board of Directors of AUO and that of TCL approved setting up the joint venture with a registered capital of no more than Rs.55.41 crore ($12 million). AUO and TCL will own 51 per cent and 49 per cent of the shareholding of the joint venture respectively. The joint venture will be located at Zhong Kai Hi-Tech Development Zone, Huizhou, Guangdong, and will be tentatively named Huizhou Bri-King Optronics Co. Ltd.

If the investment plan is approved by the relevant authority, it will complete AUO's presence of module plants in the China market. With services covering from eastern China, southern China, northern China to south-west China, AUO will be able to respond to customers' demands timely and strengthen its service quality.

The AUO-Haier joint venture will be named Qingdao Haier Optronics Co. Ltd with a registered capital of Rs.32.32 crore ($7 million). Haier and AUO will own 70 per cent and 30 per cent of the shareholding of the joint venture company, respectively. The TFT-LCD TV panel module production will be in set up at Haier Industrial Park, Qingdao.

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.

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