Agilent Technologies Increases Investment in China with New Semiconductor Solutions Center and Wholly Owned Subsidiary.Business Editors/High-Tech Writers SHANGHAI, China--(BUSINESS WIRE)--Feb. 12, 2004 Shanghai Ventures to Support Fast-Growing Mobile Handset and Consumer Markets, Regional Supply Chain Infrastructure Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Inc. (NYSE NYSE See: New York Stock Exchange :A) today announced the opening of the Agilent Semiconductor Solutions Center (ASSC ASSC Association for the Scientific Study of Consciousness ASSC American Shooting Sports Council ASSC Accounting Standards Steering Committee (UK) ASSC alt.sex. ) in Shanghai, initially aimed at delivering industry-leading solutions to the fast-growing mobile handset and consumer markets in China. Agilent also announced a new wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Agilent Technologies Trading (Shanghai) Co. Ltd., which has been established to develop a world-class supply chain for its manufacturing customers in China. This investment represents another Agilent move toward growing its market position and fostering its long-term presence in China. The ASSC's goal is to develop innovative semiconductor solutions and accelerate product development for OEMs (original equipment manufacturers), ODMs (original design manufacturers) and mobile handset manufacturers based in Greater China. Headed by Calvin Chen Calvin Chen Yi Ru (Traditional Chinese: 辰亦儒; Pinyin: chén yìrú) is a Taiwanese singer and actor. He is currently a member of the boy band Fahrenheit. , a 15-year Agilent veteran with broad semiconductor experience, the center will initially focus on building mobile-technology R&D, engineering and service capabilities and is expected to expand its focus to also include storage, computing, networking and optoelectronics solutions. Agilent expects the center's staffing to reach approximately 100 employees by the end of 2004. "China is a significant and growing part of Agilent's semiconductor business, and we've decided to aggressively invest in its high-growth mobile and consumer markets," said Young K. Sohn, president of Agilent's Semiconductor Products Group. "We expect our headcount in China to approach 1,000 in the next five years." The ASSC will initially support handset customers in designing and optimizing Agilent's broad range of innovative solutions for mobile applications. These include embedded Inserted into. See embedded system. camera modules that enable camera phones with exceptional image quality, radio frequency devices that reduce handset size, infrared transceivers for transmitting data, surface mount LEDs for backlighting back·light n. A type of spotlight, used in photography, that illuminates a subject from behind. tr.v. back·light·ed or back·lit , back·light·ing, back·lights , and ambient light sensors that save battery life. The new center will also offer customization and development services, including reference designs and software. "Agilent has a unique set of industry-leading products for mobile handset customers," said Calvin Chen of Agilent. "The ASSC is expected to help a wide range of Chinese companies Chinese owned companies can be defined as enterprises within mainland China, Hong Kong, Macau and the Republic of China (Taiwan):
New Subsidiary The new business venture, Agilent Technologies Trading (Shanghai) Co. Ltd., is a wholly owned Agilent subsidiary. The trading company will initially work with Agilent's Semiconductor Products business but is expected to later serve Agilent's other businesses as well. It will be located in the Waigaoqiao Free Trade Zone in Shanghai. Agilent already operates a global manufacturing center in Shanghai and has seven offices throughout the country. In 1981, Agilent, then HP, was one of the first multinational companies to open an office in China. "China is very important to Agilent, and we have a long history here," said Max Yang yang (yang) [Chinese] in Chinese philosophy, the active, positive, masculine principle that is complementary to yin; see yin, under principle. , vice president of Agilent Asia Pacific Field Operations, Semiconductor Products Group, and head of the new trading company. "The opening of Agilent Technologies Trading (Shanghai) Co. Ltd. underscores our commitment to developing a supply chain infrastructure for this market." "Agilent will continue to strengthen its presence and build a great company in China," said Wayne Chan, vice president and general manager of Agilent Greater China. "With the establishment of the ASSC and the trading company, Agilent's strategic investment in China now includes a full range of businesses and benefits our customers across the communications, electronics, life science and chemical analysis industries." About Agilent Technologies Agilent Technologies Inc. (NYSE:A) is a global technology leader in communications, electronics, life sciences and chemical analysis. The company's 28,000 employees serve customers in more than 110 countries. Agilent had net revenue of $6.1 billion in fiscal year 2003. Information about Agilent is available on the Web at www.agilent.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release contains forward-looking statements (including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 1) Agilent's long-term presence in China, 2) Agilent's expectation of increasing its headcount in China, 3) the expectation that ASSC will help a wide range of Chinese companies and 4) the expectation that Agilent Technologies Trading Co. Ltd. will eventually serve other Agilent businesses in addition to the Semiconductor Products Group) that involve risks and uncertainties that could cause results to differ materially from management's current expectations. These and other risks are detailed in the company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Oct. 31, 2003. The company assumes no obligation to update the information in this press release. NOTE TO EDITORS: Further technology, corporate citizenship Corporate Citizenship The extent to which businesses are socially responsible in meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim it to create higher standards of living and quality of life in the community in which it operates, while and executive news is available on the Agilent news site at www.agilent.com/go/news. |
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