Amkor Technology Expanding Operations in Japan; Acquiring Semiconductor Assembly Business of Citizen Watch Co., Ltd.Business Editors, Technology Writers CHANDLER, Ariz.--(BUSINESS WIRE)--Jan. 24, 2002 Amkor Technology Amkor Technology, Inc. (NASDAQ: AMKR) is a high-tech semiconductor product manufacturer that includes Intel and IBM among its primary customers. Previously headquartered in West Chester, Pennsylvania, United States, Amkor recently announced that it will move to Chandler, , Inc. (Nasdaq:AMKR AMKR Amkor Technology ) today announced a definitive agreement to acquire the semiconductor assembly business of Citizen Watch Co., Ltd. Citizen's assembly operations are located in Kitakami / Iwate Japan, in close proximity to the Amkor Iwate assembly factory. The acquisition should be completed on or about January 31, 2002, subject to regulatory approval in Japan. Transaction terms were not disclosed, but will involve an initial cash payment to Citizen, plus additional payments to be determined by revenue streams over the next two years. Citizen's assembly business operates as a third party subcontractor One who takes a portion of a contract from the principal contractor or from another subcontractor. When an individual or a company is involved in a large-scale project, a contractor is often hired to see that the work is done. , providing advanced IC packaging for a broad range of Japanese semiconductor companies. Citizen also has a strong portfolio of packaging intellectual property, specifically regarding BGA (Ball Grid Array) A popular surface mount chip package that uses a grid of solder balls as its connectors. Available in plastic and ceramic varieties, BGA is noted for its compact size, high lead count and low inductance, which allows lower voltages to be used. packaging technology. Amkor will acquire the assembly operations and Citizen's IC packaging intellectual property. In connection with the acquisition, Amkor expects to hire approximately 83 employees from Citizen's assembly operations. "This transaction strengthens Amkor's position in providing assembly services to the Japanese semiconductor industry, where the outsourced model is growing," said John Boruch, Amkor's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "It enhances our existing capabilities in Japan with high-end laminate laminate, n a thin slice of porcelain or plastic fabricated in a dental lab, which is cemented to the front of the teeth to cover gaps, whiten stained teeth, or reshape chipped or broken teeth. package technology and an established third party customer base for advanced package applications. It also gives Amkor additional technology and management resources to expand our applications development and design services. In addition, the agreement provides Amkor with key patent rights to ball grid array “BGA” redirects here. For other uses, see BGA (disambiguation). A ball grid array (BGA) is a type of surface-mount packaging used for integrated circuits. packaging." "This is an exciting opportunity for Citizen Watch Co., Ltd. and also for our IC assembly business," said Mr. Hiroyuki Harasaki, Director General Manager of Corporate Planning Division for Citizen Watch Co., Ltd. "As we transfer a non-core business to the world's largest semiconductor assembly company, Citizen can focus on key competencies while ensuring that the employees and customers of our IC assembly business benefit from Amkor's industry leadership and unmatched resource base. We are committed to work with Amkor to make this transaction successful. Our senior executives will help transition the business to Amkor and will assist in building relationships with our business partners involved in manufacturing at this site." About Amkor Technology Amkor Technology, Inc. is the world's largest provider of outsourced semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services, including deep sub-micron wafer fabrication Wafer Fabrication is a procedure composed of many repeated sequential processes to produce complete electrical or photonic circuits. Examples include production of radio frequency (RF) amplifiers, LEDs, optical computer components, and CPUs for computers. ; wafer probe, wafer mapping, characterization and reliability testing; IC packaging design and assembly; multi-chip module A Multi-Chip Module or MCM is a specialized electronic package where multiple integrated circuits (ICs), semiconductor dies or other modules are packaged in such a way as to facilitate their use as a single IC. design and assembly; and final testing. More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com. |
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