AU Optronics Signs MOU with Toshiba Mobile Display to Acquire its Subsidiary in Singapore
Poster: SySAdmin
Posted on March 31, 2010 at 2:14:01 AM
AU Optronics Signs MOU with Toshiba Mobile Display to Acquire its Subsidiary in Singapore
HSINCHU, Taiwan, March 31 -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) announced today that AUO has signed an MOU with Toshiba Mobile Display Co., Ltd. ("TMD") to purchase 100% shares of AFPD Pte., Ltd. ("AFPD"), a subsidiary of TMD in Singapore and a leading manufacturer of LCD panels based on low temperature polysilicon (LTPS) technology.
Meanwhile, AUO and TMD intend to enter into certain agreements relating to each party's intellectual property rights. This acquisition, when it becomes effective, will hopefully help AUO to gain business opportunities in high-end notebook and smart phone market.
"AUO has devoted to developing LTPS technologies for a long time," AUO's CEO and President, Dr. L. J. Chen said, "With AFPD's fab, capacity, talents and technologies, AUO's competence in high-end display market is further strengthened. In addition, the acquisition could help to place AUO in a special strategic position in slim notebook and smart phone for the high-end markets and new application markets such as tablet PC. We expect AUO to soon provide value-added LTPS technologies to our customers and to the end consumers."
Having demonstrated numerous achievements in LTPS technologies, Toshiba Mobile Display has long held a leading position in the high end notebook display sector. Currently, the world's latest generation fab capable of producing LTPS is G4.5. The G4.5 fab of AFPD has a capacity of approximately 45,000 sheets per month.
The acquisition of AFPD in Singapore will allow AUO to establish a new operating manufacturing base in Asia in addition to Taiwan and China. With its outstanding geographic location and logistics for resources, the new site will hopefully be able to serve the high-end display markets in South Asia, the Middle East, Australia and New Zealand. In meeting the future trend for smart phones equipped with LTPS technologies, AUO will not only be a step faster but also be ready for better visibility and competitiveness in the high-end cell phone market.
The proposed transaction is subject to the signing of definitive agreements between AUO and TMD, as well as to any necessary approvals.
ABOUT AU OPTRONICS
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. For more information, please visit AUO.com.
About Toshiba Mobile Display
Toshiba Mobile Display Co., Ltd. (TMD) is positioned as one of the world leaders in thin film transistor liquid crystal display panels (TFT-LCD) based on its advanced technology. TMD has based its strategy on furthering the development of leading-edge technology, such as precision mounting and high- resolution, as well as employing the design and production expertise. TMD offers TFT-LCD panels with high added-value, especially in the field of small and medium sized displays. TMD has strong positions for displays for mobile telephones, PDF, car navigation systems, notebook PCs, and other displays. TMD provides the most advanced display that has vivid, high-resolution, thin and energy-saving features based on the low temperature polysilicon technology. TMD generated 256 billion Japanese Yen in sales revenue in 2008 and houses a staff of 2,700 employees in 2009. For more information, please visit TMD's home page ( http://www.tmdisplay.com/ ).
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of large-size TFT-LCD panels, today announced the above news. Except for statements regarding historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time, regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 27th, 2009.
Source: AU Optronics Corp.
CONTACT: Freda Lee, +886-3-500-8800 x3206, Fax +886-3-577-2730,
freda.lee@auo.com, or Yawen Hsiao, +886-3-500-8800 x3211, Fax +886-3-577-2730,
yawen.hsiao@auo.com, both of AU Optronics Corp., Corporate Communications
Division
Web site: http://www.auo.com/
http://www.tmdisplay.com/
HSINCHU, Taiwan, March 31 -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) announced today that AUO has signed an MOU with Toshiba Mobile Display Co., Ltd. ("TMD") to purchase 100% shares of AFPD Pte., Ltd. ("AFPD"), a subsidiary of TMD in Singapore and a leading manufacturer of LCD panels based on low temperature polysilicon (LTPS) technology.
Meanwhile, AUO and TMD intend to enter into certain agreements relating to each party's intellectual property rights. This acquisition, when it becomes effective, will hopefully help AUO to gain business opportunities in high-end notebook and smart phone market.
"AUO has devoted to developing LTPS technologies for a long time," AUO's CEO and President, Dr. L. J. Chen said, "With AFPD's fab, capacity, talents and technologies, AUO's competence in high-end display market is further strengthened. In addition, the acquisition could help to place AUO in a special strategic position in slim notebook and smart phone for the high-end markets and new application markets such as tablet PC. We expect AUO to soon provide value-added LTPS technologies to our customers and to the end consumers."
Having demonstrated numerous achievements in LTPS technologies, Toshiba Mobile Display has long held a leading position in the high end notebook display sector. Currently, the world's latest generation fab capable of producing LTPS is G4.5. The G4.5 fab of AFPD has a capacity of approximately 45,000 sheets per month.
The acquisition of AFPD in Singapore will allow AUO to establish a new operating manufacturing base in Asia in addition to Taiwan and China. With its outstanding geographic location and logistics for resources, the new site will hopefully be able to serve the high-end display markets in South Asia, the Middle East, Australia and New Zealand. In meeting the future trend for smart phones equipped with LTPS technologies, AUO will not only be a step faster but also be ready for better visibility and competitiveness in the high-end cell phone market.
The proposed transaction is subject to the signing of definitive agreements between AUO and TMD, as well as to any necessary approvals.
ABOUT AU OPTRONICS
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. For more information, please visit AUO.com.
About Toshiba Mobile Display
Toshiba Mobile Display Co., Ltd. (TMD) is positioned as one of the world leaders in thin film transistor liquid crystal display panels (TFT-LCD) based on its advanced technology. TMD has based its strategy on furthering the development of leading-edge technology, such as precision mounting and high- resolution, as well as employing the design and production expertise. TMD offers TFT-LCD panels with high added-value, especially in the field of small and medium sized displays. TMD has strong positions for displays for mobile telephones, PDF, car navigation systems, notebook PCs, and other displays. TMD provides the most advanced display that has vivid, high-resolution, thin and energy-saving features based on the low temperature polysilicon technology. TMD generated 256 billion Japanese Yen in sales revenue in 2008 and houses a staff of 2,700 employees in 2009. For more information, please visit TMD's home page ( http://www.tmdisplay.com/ ).
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of large-size TFT-LCD panels, today announced the above news. Except for statements regarding historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time, regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 27th, 2009.
Source: AU Optronics Corp.
CONTACT: Freda Lee, +886-3-500-8800 x3206, Fax +886-3-577-2730,
freda.lee@auo.com, or Yawen Hsiao, +886-3-500-8800 x3211, Fax +886-3-577-2730,
yawen.hsiao@auo.com, both of AU Optronics Corp., Corporate Communications
Division
Web site: http://www.auo.com/
http://www.tmdisplay.com/