Mar. 16, 2010 (China Knowledge) - Taiwan-based AU Optronics Corp, the world's third-largest maker of liquid crystal displays by revenue, has received approval from its board of directors to set up a joint venture with TPV Technology Ltd in Gorzow, Poland.

The Poland JV will be called BriVictory Display Technology (Labuan) Co Ltd and will have an initial capital of US$40 million. The JV will produce thin film transistor liquid crystal display panel modules for TVs, AUO said in a statement.

AUO will hold 51% of the JV while the remaining 49% stake will go to TPV, according to the statement.

The strategic alliance will combine TPV's strong brand image and business infrastructure in the European market with AUO's leading technology in TV panel manufacturing, the statement said.

If the investment plan is approved by the relevant regulatory authorities, Brivictory Display will be AUO's third module plant in Europe, counting established manufacturing sites in the Czech Republic and Slovakia.

AUO is one of the world's top three manufacturers of TFT-LCDs and is able to provide customers with a full range of panel sizes and comprehensive applications.