AUO and Idemitsu Form Strategic Alliance for OLED
HSINCHU, Taiwan, Feb. 2, 2012 /PRNewswire-Asia-FirstCall/ -- AU Optronics ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced that the Company and Idemitsu Kosan Co., Ltd. (hereinafter "Idemitsu") agreed to form a strategic alliance in the field of OLED, which is expected to be used for next generation displays. The strategic alliance includes technological collaboration to develop high-performance OLED displays and OLED-related patents.
Under this strategic alliance, Idemitsu will supply high-performance OLED materials to AUO, including device structure proposal. On the other hand, AUO will reinforce the development of OLED products using high-performance OLED materials supplied by Idemitsu. This will accelerate business growth in AUO's small-sized OLED displays for smartphone and tablet, which have emerged as a new growth area in the display industry, and that of large-sized OLED displays for TV.
Idemitsu has long been dedicated to the research and development of OLED materials. In 2007, Idemitsu established its OLED materials manufacturing plant in Omaezaki, Shizuoka. In recent years, the company continues to reinforce the deployment of its OLED supply system. AUO is a global leader in the design, R&D and manufacturing of LCD, with a research staff of more than 3,500 worldwide. AUO has long invested in the research and development of AMOLED and currently holds several hundreds of OLED-related patents. Through this strategic alliance, both companies will be able to enjoy the benefits of reciprocal synergy in the OLED business, effectively increasing competitiveness on both sides and build a foundation to demonstrate leadership in the industry.
Furthermore, both companies will study the possibility of collaboration in the fields other than OLED.
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$379.7 billion in sales revenue in 2011 (US$ 12.54 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.
* 2011 year end revenue converted at an exchange rate of NTD30.27:USD1.
Idemitsu was established on March 20, 1940. Its main businesses include: Petroleum refining and manufacture and sale of oil products, manufacture and sale of petrochemical products and renewable energy; development and extraction of petroleum and other mineral resources; development, manufacture, and sale of functional electronic materials; the company also engages in the research and development of renewable energy sources, agricultural and other chemicals. The company is one of the largest petroleum and petrochemical companies in Japan, with a registered capital of 108,600 million yen, and a staff of 8,200. In 2010, Idemitsu's annual revenues amounted to 3,659,301 million yen.
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.
SOURCE AU Optronics Corporation