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Wed, May 15, 2002 - Page 18 News List

AU Optronics quits venture


AU Optronics Corp, the world's third-largest flat-panel display maker, backed out of a venture to make television flat panels with Formosa Plastics Corp (台塑) and Japan's Fujitsu Hitachi Plasma Display Ltd, news reports said, citing Formosa.

Formosa, which has 55 percent of the venture, will take over AU Optronics' 22.5 percent stake in the venture, Formosa Plastics President Lee Chih-tsuen (李志村) was quoted as saying.

AU Optronics, which has experimental plasma television screen plants, may have decided to further develop the product on its own or to seek other partners. The venture, which was announced on Feb. 1, was to invest up to NT$15 billion (US$434 million) in a Taiwan-based factory expected to begin production next February.

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