Mainland firm buys 25% of Powertech
Print Edition
THE Chinese mainland’s Tsinghua Unigroup Ltd is buying 25 percent of Powertech Technology Inc for US$600 million, becoming the largest shareholder in the Taiwan chip packaging and testing company.
The alliance, announced yesterday by both companies, is likely to help bolster the development of the mainland’s fledgling chip industry and comes after Tsinghua Unigroup recently hired a veteran Taiwan semiconductor executive.
“We believe Powertech, with its ability in the assembly and testing industry, will be an important member in the semiconductor industry supply chain of Taiwan and the mainland. We expect to achieve a win-win together following our cooperation,” Tsinghua Unigroup Chairman Zhao Weiguo, said in a company statement.
Powertech said the move will help grow its global market share as a chip assembler and tester, and allow it to vertically integrate with the semiconductor business of Tsinghua Unigroup.
Tsinghua Unigroup will pay NT$75 (US$2.31) a share in a private placement of new Powertech shares to gain a 25 percent ownership of the company. The deal still needs to be approved by Powertech shareholders and regulatory authorities.
Powertech’s main operations are in Taiwan and it employs more than 11,000 on the island, which is around 90 percent of the company’s total staffing, Powertech said.
It said it plans to use the funds from the private placement to expand its capacity of advanced assembly and testing services in Taiwan and develop advanced processes for production.
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