AU Optronics Corp (友達光電) yesterday said it planned to form a US$16 million LCD TV module assembly venture in Brazil with TPV Technology Ltd (冠捷科技), paving the way for its foray into another fast-growing BRIC country following its moves into China.
BRIC refers to Brazil, Russia, India and China.
The joint venture with Hong Kong-listed TPV would be the Taiwanese panel maker’s first production base in Latin America, through which it hopes to provide just-in-time services and customer support, AU Optronics said in a statement.
The proposal was still awaiting approval from regulators, the Hsinchu-based company said.
SECOND VENTURE
The Brazilian plant would be AU Optronics’ second TV module venture with TPV after their US$40 million venture in Gorzow, Poland, which opened in March.
AU Optronics and TPV would own 19 percent and 81 percent of the Brazilian venture respectively.
“The joint venture will provide TV panel modules to TPV and other global TV brands in Brazil,” AU Optronics spokesperson Hsiao Yawen (蕭雅文) said by telephone yesterday.
The joint venture will be set up in a special economic zone in Manaus, Brazil, where it can enjoy tariff exemptions, Hsiao said.
TPV, which sells own-brand TVs under the AOC brand, is the fourth-largest TV maker in Brazil, with 10 percent of the market.
AU Optronics is eyeing the strong growth potential of the flat-panel TV market in Brazil, where cathode-ray tube TVs still account for about half of the TV market.
FUTURE SALES
LCD TV sales are expected to get a further boost when Brazil hosts the 2014 FIFA World Cup and 2016 Olympic Games, the Hsinchu-based firm said in its statement.
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