AUO Corporation ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) and Evonik Industries have agreed to take their successful business relationship to the next level of cooperation. Since 2008, the companies through AUO's affiliate Forhouse Corporation 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.
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“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.
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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.