Published date:2006-10-01
Hsinchu, Taiwan,
AUO Corporation ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced the completion of its merger with Quanta Display Inc. (QDI). Following the signing of a merger agreement on April 7, 2006, the merger has been approved by the Fair Trade Commission, Executive Yuan, and by the shareholders of each of AUO and QDI. With approximately 20.9%(a) of the large-sized TFT-LCD market share, the post-merger AUO will be able to leverage its competitive power to not only integrate Taiwan’s TFT-LCD industry resources but also provide worldwide customers better products, technology and service.
“AUO and QDI complement one another in their strengths, ushering in the arrival of a new era,” AUO’s Chairman Mr. KY Lee said. “The post-merger AUO will be better able to utilize its resources and R&D talent so as to strengthen AUO’s leadership in the global TFT-LCD industry.”
Mr. KY Lee and Mr. HB Chen remain as Chairman/CEO and President/COO of the post-merger AUO, respectively. Post-merger, AUO will rank as the world’s No. 1 maker of large-sized TFT-LCD panels with an estimated market share of approximately 20.9%; AUO will also rank as the world’s No. 1 maker of notebook TFT-LCD panels with a market share of over 25%. Moreover, post-merger AUO will rank second and third in the world as makers of LCD Monitor TFT-LCD panels and LCD TV TFT-LCD panels, respectively in terms of global market share (a). As for small-and-medium-sized panels, AUO also ranked second for both Digital Video Camera and General AV applications in the world, and the third in Digital Still Camera applications in terms of global market share (b). In addition, AUO’s global workforce will increase from approximately 29,000 to more than 42,000 employees after the merger.
Mr. HB Chen said, “Five years ago, AUO was formed by the merger of Acer Display Technology, Inc. and Unipac Optoelectronics Corporation. This time, on the basis of previous merger experience, we have already carried out the integration of R&D resources, site management, supply chain management, product mix, and customer portfolios. Together with our state-of-the-art fabs, we will strive to leverage our strength to keep our pulse on trends in the market and to provide our customers with tailor-made solutions that are both technologically and strategically advantageous.”
Today, AUO also launches its new Web site. In addition to the most updated information, the new Web site unveils a number of enhanced functions, such as product information and a search engine. For more details, please visit www.auo.com
(a): Amassed market share of AUO and QDI, based on DisplaySearch Large Area Unit Shipment Q2, 2006 report. The information is for reference only.
(b):Market share based on TSR medium/small size TFT-LCD (a-Si + LTPS) Q2, 2006 report. The information is for reference only.
The information contained herein does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered under applicable law or exempt from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus and will contain detailed information about AUO Corporation and its management, as well as financial statements. No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted.