LCD panelmaker AU Optronics Corp (AUO, 友達光電) is planning to invest NT$91.08 billion (US$3.26 million) over the next few years to expand its capacity to domestically produce panels used in premium notebook computers, the Hsinchu-based company said on Tuesday.
The investment would be part of the company’s efforts to boost production resilience and safeguard market share, AUO said in a statement.
It aims to increase capacity at its 8.5-generation and 6-generation plants in Taichung, and produce more panels with advanced hyper viewing angle technology to satisfy prospective rising demand in the post-COVID-19 era, it said.
Photo: Chen Mei-ying, Taipei Times
AUO also plans to spend NT$10 billion a year on the development of cutting-edge technologies and the enhancement of manufacturing capabilities, it said.
The panel maker has about 20,000 employees nationwide and is planning to create 2,700 new jobs, according to its four-year investment plan.
AUO also plans to expand panel manufacturing capacity in China to make low-temperature-poly-silicon panels (LTPS) used in high-end notebook computers, it said.
The company last quarter commanded about 60 to 70 percent of the world’s LTPS panel market, it said.
AUO on Tuesday received approval from the Investment Commission to invest US$617 million in its Chinese subsidiary in Kunshan, which would allow it to fully take over the subsidiary, of which it currently owns 51 percent, it said.
The commission also approved another US$384 million investment in the subsidiary, which would be used to expand the unit’s output to 47,000 units per month, it said.
“Given that the planned investment in Taiwan clearly exceeds the investment in China, we decided to approve AUO’s investment there,” the commission said. “As the Chinese subsidiary would handle simple manufacturing, we estimate that the risk of technology leakage is minimal.”
The commission also approved a China-bound investment of US$115 million by KGI Bank (凱基銀行), a subsidiary of China Development Financial Holding Corp (中華開發金控), to develop its consumer financial business in the nation.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased