Evonik and AU Optronics Corp. conclude strategic partnership
Evonik Industries and AU Optronics Corp. (AUO) have agreed to take their successful business relationship to the next level of cooperation. Since 2008, the companies have been working together in Evonik Forhouse Optical Polymers (EFOP) joint venture that includes the operation of a plant which produces acrylic polymers for the TFT-LCD industry. Today, they continue to pool their comprehensive expertise, focusing intensely on the growing solar, lighting, and other green energy markets. The non-exclusive agreement will focus mainly on research and development, production planning, and manufacturing. There are additional points of cooperation in such areas as PMMA recycling. Moreover, the EFOP joint venture is planning to double its PMMA capacity to about 85 kilotons.
"Above and beyond our current relationship, we are impressed by AUO’s strong capabilities in various applications and state-of-the-art manufacturing process management. Our main goal to establish the joint development program in Taiwan with AUO is to open up new application markets. To this end, we're contributing our formidable expertise in lightweight construction, solar engineering, and electro mobility," says Patrik Wohlhauser, Chairman of the Board of Management of Evonik Degussa GmbH. "While we are developing our green energy solutions, we will need solid capability in material research and development. Evonik is a global leader in specialty chemicals. The joint research and development effort between AUO and Evonik will enable us to advance further and benefit everyone – the companies, our customers, and society in general", adds KY Lee, Chairman of AUO.
In tandem, the two are definitely a dream team: Evonik, a system solutions and material supplier with a long-term strategy involving resource efficiency and globalization of technologies, and AUO, a globally active components innovator and pacesetter in the design, development, and production of TFT-LCDs. The partnership agreement will thus enhance the companies’ abilities to advance into new, challenging and fast-growing business segments, in line with sustainable and reliable product and process development.
About Evonik
Evonik Industries is the creative industrial group from Germany. We are a global leader in our core business of specialty chemicals. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company’s performance is shaped by creativity, specialization, continuous self-renewal, and reliability.
Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 billion.
About AUO
AU Optronics Corp. (AUO) is a global leader of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches. AUO generated NT$356 billion (US$11.2 billion) in sales revenue in 2009 and now houses a staff of more than 42,000 employees, with global operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO extended its market to the green energy industry in late 2008. The Display and Solar businesses were established respectively as the Company’s tw
Disclaimer
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.