Taiwan's AU Optronics Buys into Solar-Power Wafer maker
AU Optronics Corp. said Monday it will buy a majority stake in Japanese silicon wafer maker M. Setek Co. to boost its presence in the solar-power sector.
AU Optronics, a Taiwan-based maker of LCD screens, said it plans to take an initial $125 million position in M. Setek, which makes polysilicon and monocrystal silicon wafers used in solar panels.
"Such investment is for AUO to secure key materials in the solar industry and strengthen its strategic position in energy business," the company said.
However, it said the eventual size of its investment would depend on the "future development" of M. Setek.
Taiwan-listed shares of AU Optronics traded up 1.6% in Monday morning action, following the announcement.