Taiwan's AU Optronics in ventures with China's Haier, TCL

Taiwan's AU Optronics Corp said Thursday it was setting up joint ventures with China's Haier Group and TCL Corp in the flat panel maker's latest forays into the mainland market.

Haier, China's top home appliance manufacturer, will hold a 70 percent stake in a 7.0 million US dollar venture to set up a plant in Qingdao, with AU Optronics taking the remainder, the Taiwanese firm said in a statement.

Separately, AU Optronics will control a 51 percent stake in a 12 million US dollar deal with TCL, one of China's largest television makers, to set up an LCD module plant in the southern Chinese city of Huizhou.

AU Optronics already operates LCD module plants in Xiamen, Suzhou and Shanghai, and in Sichuan province.

(c) 2010 AFP