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AUO and Sichuan Changhong Announce TFT-LCD Module Production Plant Joint Venture

Posted on: Sunday, 21 June 2009, 20:37 CDT

HSINCHU, June 21 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("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.

ABOUT AU OPTRONICS

AU Optronics Corp. (AUO) is the worldwide top 3 manufacturer* of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers 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$423.9 billion (US$12.9 billion) in sales revenue in 2008 and now houses a staff of more than 40,000 employees throughout its global operations spreading across 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). For more information, please visit AUO.com.

Safe Harbour Notice

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a worldwide top three manufacturer of large-size TFT-LCD panels, today announced the above news. Except for statements in respect of 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 June 4th, 2008.

SOURCE AU Optronics Corp.

Source: PR Newswire

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