HSINCHU, Taiwan, Dec. 17, 2010 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("AUO") (TAIEX: 2409; NYSE: AUO) announced today that it is glad to have obtained formal approval from the Investment Commission of MOEA to establish G7.5 fab in China and appreciates all the attention received. AUO will follow the government regulations and submit the subsequent information needed to expedite the investment process.
In a highly competitive international market, Taiwanese panel suppliers now have only very limited time to create the early-mover competitive advantages in mainland China. We must work much harder to catch up. AUO hereby calls for the Government to perceive from the point of expanding the global influence of Taiwan's optoelectronic supply chain. We hope the Government could consider adopting a more lenient industry policy implemented by Taiwan's competitor countries and lifting the current restriction on fab generation and M&A investments in order to provide Taiwanese manufacturers with more flexibility for its global business strategy and boost Taiwan panel industry's global competitiveness.
The Company's second G8.5 production line in Central Taiwan Science Park will enter mass production next year. In the future, AUO will continue moving toward developing and investing in next-generation production lines in Taiwan and continue devoting itself to invest in Taiwan.
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$359.3 billion (US$11.2 billion) in sales revenue* in 2009 and now houses a staff of more than 42,000 employees, 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.
* 2009 year end revenue converted at an exchange rate of NTD31.95: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 11th, 2010.
SOURCE AU Optronics Corporation