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Mar 31, 2012
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Release Date: Mar 18, 2010

Chimei Innolux Officially Takes Form as a New Powerful Force in the Global LCD Panel Industry

Innolux Display Corp. today officially announced the completion of its merger with Chi Mei Optoelectronics and TPO Displays Corp. to emerge as the new Chimei Innolux Corporation (stock code: 3481). This mega-merger, which took just over four months to complete since being announced on November 14 last year, was officially announced by CEO Hsing-Chien Tuan today and it signifies the advent of a new era in the global panel industry.

“For such a complex merger to be accomplished in just four months, we must first give credit to the government and the various sectors for their assistance. By leveraging the existing resources of all three companies, the new company will make customer satisfaction a priority, with confidence that the synergies created through this merger will gradually become evident as we gain feedback from our customers,” said CEO Hsing-Chien Tuan.

“Following the merger, Chimei Innolux will be focusing on four major tasks this year: (i) Completing the integration of the three companies; (ii) Strengthening financial fundamentals; (iii) Boosting technology and quality; and (iv) Improving profitability across the board,” said Hsing-Chien Tuan, with regard to this year’s objectives. “Moreover, to meet the requirements for high growth and new display applications in the global LCD display market, Chimei Innolux will also set a roadmap for production capacity expansion, investment in new plants, strategic planning and employee recruiting.”

At today’s announcement, Chimei Innolux also introduced its management team, which brings together the veteran TFT LCD teams of the three companies. Hsing-Chien Tuan is CEO; former CMO president Jyh-Chau Wang is now president of Southern Taiwan Science Park branch and in charge of front-end manufacturing; and both vice presidents Wen-Jyh Sah and Chin-Lung Ting are leading research and development. The various business units are headed by executives, including Jyh-Chau Wang (Southern Taiwan Science Park branch president), vice president Jeff Ting-Chen Hsu, vice president Andre Krebbers, associate vice president Roger Chen-Hua Luo, vice president Micro Cheng-Hui Chao and associate vice president Newman Chien-Yu Tseng. Associate vice president Eddie Chen is CFO and vice president Peterson Cheng-Jen Tien is general counsel.

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