HSINCHU, June 22 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced its decision, as resolved by its Board of Directors on June 19th, to subscribe new shares to be issued by M.Setek, which is a major polysilicon and monocrystal silicon wafers manufacturer in Japan. Such investment is for AUO to secure key materials in the solar industry and strengthen its strategic position in energy business. AUO's preliminary plan is to invest US$125 million taking majority shareholding of M.Setek gradually, with investment amount to be finalized depending on future development of the investee.
Being a major supplier to renowned solar cell companies around the world, M.Setek is a company with leading technology that realizes high conversion rate of monocrystal silicon wafers for solar cells. Its capabilities and high-efficient products have always been highly recognized in the Industry. "This will mark a major step forward for AUO's endeavor in energy business," said K.Y. Lee, Chairman of AUO. "We are very much looking forward to collaborating with M.Setek, jointly bringing greater inputs to solar energy sources and providing better renewable energy solutions."
Dr. L.J. Chen, President and CEO of AUO, also expressed that after extensive and careful planning, as well as the establishment of a dedicated R&D team, AUO's energy business, guided by the strategy of total solution, has been proactively making sound presences throughout the value chain of energy business, aiming to offer the finest integrated technology and services to the world. This includes the collaborations with system house for photovoltaics (PV) in a bit to swiftly accumulate capabilities in system integration and design at the end market.
Furthermore, the Company has established a 100%-owned energy company called AUO Energy Taiwan Corp. (AET) presided by Max Cheng as the Chairman in May 2009, which dedicates to provide integrated technical supports in energy system. The AET will provide more extensive value-added services in the future, including installation of energy system fueled by solar or other renewable energies for power plants, industrial facilities, commercial buildings and households. Currently, the AET together with system providers is actively participating in relevant solar energy projects in Taiwan and around the world.
Chairman Lee also emphasized that AUO has already possessed sound energy- efficient technologies in TFT-LCD Industry and by acquiring integrated capacities in both solar upstream and downstream industry, it is hoped that AUO will swiftly establish its leading presence in energy Industry. "More importantly, by injecting more resources and efforts, we hope to see the realization of renewable energy products with higher efficiency in a bit to solve human beings' energy needs in the long run, as well as to protect the Earth." he added.
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.
* DisplaySearch 4Q2008 WW Large-Area TFT-LCD Shipment Report dated
February 25, 2009. This data is used as reference only and AUO does
not make any endorsement or representation in connection therewith.
2008 year end revenue converted by an exchange rate of
NTD32.76:USD1.
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.
