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INNOLUX Merges Chi Mei Optoelectronics

Posted on: Mon, 16 Nov 2009 06:21:00 EST

Symbols: AUO, CMIQF, HNHXY, INXDF

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BEIJING, Nov 16, 2009 (SinoCast Daily Business Beat via COMTEX) --
INXDF | Quote | Chart | News | PowerRating -- INNOLUX Display Corporation and Chi Mei Optoelectronics announced a merger worth USD 5.3 billion on November 13, 2009. INNOLUX is the surviving company under the name of Chimei Innolux Corporation.

Terry Gou, board chairman of Hon Hai Precision Industry Co., Ltd., says ambitiously that Chimei Innolux will take the place of AU Optronics Corporation (NYSE: AUO | Quote | Chart | News | PowerRating), becoming the world's third largest panel maker, and fight equally with South Korean archrivals Samsung Electronics and LG Display.

Hon Hai, the largest global electronics manufacturing services provider, is the parent of INNOLUX, the world's second largest computer display manufacturer. Gou discloses that Chimei Innolux will build plants in Mainland China, because Hon Hai has a complete industrial chain here. He hopes that Taiwan regulators could relax policy restrictions as soon as possible.

A fund manager of Capital Investment Trust Corporation points out that INNOLUX currently focuses on the manufacturing of LCD monitors and is able to extend reach to laptops and LCD TVs through the merger.

Source: www.sina.com.cn (November 16, 2009)

For full details on Au Optronics Corp ADS (AUO) AUO. Au Optronics Corp ADS (AUO) has Short Term PowerRatings at TradingMarkets. Details on Au Optronics Corp ADS (AUO) Short Term PowerRatings is available at This Link.

For full details on (CMIQF) CMIQF. (CMIQF) has Short Term PowerRatings at TradingMarkets. Details on (CMIQF) Short Term PowerRatings is available at This Link.

For full details on (HNHXY) HNHXY. (HNHXY) has Short Term PowerRatings at TradingMarkets. Details on (HNHXY) Short Term PowerRatings is available at This Link.

For full details on (INXDF) INXDF. (INXDF) has Short Term PowerRatings at TradingMarkets. Details on (INXDF) Short Term PowerRatings is available at This Link.

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