New European Production Base Inaugurated to Provide Clients Worldwide with Just-in-Time Service
HSINCHU, June 28, 2011 /PRNewswire-Asia/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced the inauguration of AU Optronics Slovakia s.r.o. ("AUO Slovakia") in Trencin, Slovak Republic. The ceremony was attended by AUO President of Display Business Operation Paul S.L. Peng, Slovak Prime Minister Iveta Radicova, Taipei Representative Nan-Yang Lee, and Trencin Mayor Richard Rybnicek. As one of the two AUO production bases in Europe, AUO Slovakia will play a key role in the manufacturing, assembly, and selling of large-sized LCD modules for renowned TV set makers nearby, enabling more effective supply chain management.
"It gives me great pleasure to dedicate this facility and celebrate the important milestone in Europe," said Paul S.L. Peng, President of AUO's Display Business Operation. "With the establishment of AUO Slovakia, we are building an even more complete network with our clients to effectively deliver quality LCD products worldwide. We would like to take this opportunity to express our gratitude for the full and continuous support from the Slovak government and Taipei Representative Office, Bratislava."
"We greatly look forward to the inauguration of the AUO Slovakia module plant, which is one of the country's major projects in collaboration with Taiwan," said Richard Rybnicek, Mayor of Trencin. "It is expected that the operation of AUO Slovakia will bring fresh impetus to Trencin, creating bountiful job opportunities and boosting the local economy."
AUO Slovakia is located in Trencin, a city in western Slovakia near the Czech border. The decision to establish a LCD module plant in Trencin was made in December 2009. The 200,000-square-meter (over 2 million square feet) construction project was completed in April 2011, with mass production took place in May and first shipment delivered in the same month. The plant will be able to reach a capacity of 240k per month by the end of 2011. With the joining of AUO Slovakia in LCD module manufacturing, high quality and value-added support will be offered to the European clients. When fully online in 2012, AUO Slovakia is expected to generate as many as 3,000 job offers.
AUO chose to set up its second European production base in Slovakia because of the country's unique strategic location, positive business investment climate, and competitive talent pool. The Trencin city is in a euro-zone country located in the center of Europe, which allows AUO to provide its clients with prompt support. The quality workforce also guarantees better products and services to AUO's global clients, helping them to better manage their supply chains.
It is expected that the inception of the LCD module plant in Slovakia will contribute to impressive growth for both AUO and Slovakia in the near future. Customers worldwide will also profit from the substantial synergies generated by this collaboration.
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 71 inches. AUO generated NT$467.2 billion in sales revenue in 2010 (US$16 billion) with 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 be successfully listed at the New York Stock Exchange (NYSE). AUO extended its market to the green energy industry in late 2008. The Display and Solar businesses were established respectively as the Company's two core businesses in October, 2010. For more information, please visit AUO.com.
* 2010 year end revenue converted at an exchange rate of NTD29.14:USD1.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of 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 of 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 3rd, 2011.
