Taiwan's two major panel makers, CMO (CMO, Chi Mei) and Innolux, held separate boards on the morning of November 14. The meeting was merged by Chi Mei and Innolux. For the surviving company, the Chinese name of the merged company will be renamed Chi Mei Electronics Co., Ltd., and the English name is ChimeiInnolux Corporation.
After considering the factors such as net worth, capacity, technology and profitability of the two companies, the board of directors of the two parties decided to exchange 2.05 shares of common stock of Chi Mei Electronics for 1 share of Orient Optoelectronics common stock; this merger will take effect after the completion of relevant legal procedures. The changes brought about by the global LCD panel industry have attracted much attention from the industry. The two companies belonged to the Chi Mei Group and the Hon Hai chiefs Xu Wenlong and Guo Taiming. They personally attended the press conference on the morning of the 14th to announce the major merger.
Liao Jinxiang, Chairman of Chi Mei Electronics, said that the merger can take advantage of Chi Mei Opto's capacity, products, OpenCellBusiness and customer layout, combined with QunChuang's superior manufacturing integration capabilities and huge seaports to create a mutually beneficial industry combination. In addition, Chimei Group's advantages in chemistry and materials, Hon Hai Group's layout in machine optoelectronics and global R&D and manufacturing will form the most powerful competitiveness of the new business in the future.
Duan Xingjian, Chairman of Innolux, also said that the merger of Innolux and Chi Mei Optoelectronics will enable Taiwan's electronics industry chain to re-integrate through the panel industry, so that production capacity, technology, talents and capital will be better, and the middle and lower reaches. The operation of related products such as mobile phones, notebook computers, monitors, and televisions has produced greater synergy and benefited customers. The combined new company will demonstrate strong competitiveness in the global electronics industry and create greater benefits for shareholders.
At the beginning of October, Innolux announced that it will replace the Group’s 8 common stocks with the Group’s common stocks, and acquire TPO, which specializes in small and medium-sized panel panels for mobile display; actively expand the full-size panel technology. Ingenuity of ability, whether it can surpass the domestic panel leading factory AUO (AUO) in the future, and even challenge South Korea's Samsung, LG, rewrite the global panel industry map, its development needs to be observed.
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