■ AU Optronics to expand in PRC
AU Optronics Corp (友達光電), the world's third-largest flat panel display maker, said yesterday it plans to set up a US$30 million joint venture in Xiamen to produce back-light modules and other components for flat panel display use.
"The joint venture is expected to support AU Optronics' operations on the mainland," an AU Optronics spokeswoman said. AU Optronics is expected to take a 50 percent stake in the joint venture, the spokeswoman said, while Forhouse Corp (輔祥實業) said in a statement it plans to hold another 25 percent stake in the joint venture which will be named Darwin Precisions (Xiamen) Corp (達運精密[廈門]). Forhouse is a manufacturer of electronic dartboard and back-light units in Taiwan. The joint venture investment is pending government approval, the AU Optronics spokeswoman said. Currently, AU Optronics is operating a factory for flat panel display downstream production in Suzhou.
■ E-ton shares reach milestone
Shares of E-ton Solar Tech Co (益通光能) stood above NT$1,000 on the GRETAI Stock Exchange yesterday, the first stock to exceed the mark in 15 years after Cathay Life Insurance Corp (國泰人壽). E-ton shares later declined and closed at NT$988, 1.13 percent higher from the previous trading day. E-ton, a Tainan-based solar cell maker, is currently the highest-priced stock in the local bourse and made its debut to the over-the-counter market last Wednesday. Benefitting from surging worldwide demand for solar energy, shares of E-ton are expected to pass NT$1,000 soon, analysts said.
■ Formosa Plastics hit by strike
Thai workers engaged in constructing Formosa Plastics Group's (台塑) sixth naphtha cracking plant in Yunlin County went on strike yesterday, demanding that CTCI Corp (中鼎), the project contractor, waive a meal charge of NT$2,500 and brokerage fee of NT$1,800 that are deducted from their monthly paychecks. The striking workers said that other Thai workers brokered by South Korean firm Samsung Electronics Co to work on the same project are not charged for meals and therefore those hired by CTCI should be treated the same. Wu Hsin-che (吳欣哲), a manager at the industrial zone in Mailao (麥寮), said CTCI charges the meal fee in accordance with the contract. As workers hired by Samsung and CTCI work on different parts of the project, the salary structures are different, Wu said. As the company has requested officials from Thailand's representative office to mediate the dispute, the strike should be soon over, Wu added.
■ China Motor export success
China Motor Corp (中華汽車), Taiwan's second-largest automaker, exported another 30 Mitsubishi Grunder large-size sedans last week to the Philippines, the company said in a statement yesterday. The new order followed the company's first export batch of 50 units to the Philippines in January, which was a success, China Motor y said. This made the company the first local manufacturer to export large-size sedans overseas, it said. The company also said that its Veryca/Varica cool trucks gained a foothold in Syria this month. The trucks have been the export focus for China Motor since 1994, and have been selling steadily in the Americas, Southeast Asia and Africa, according to the statement.
■ NT dollar rises
The New Taiwan dollar advanced against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.013 to close at NT$32.500. US$680 million changed hands during the day's trading.
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