FOR IMMEDIATE RELEASE
1997-0099
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FOR IMMEDIATE RELEASE 1997-0099 |
Tokyo, May 28, 1997 - Fujitsu today announced that it has set up a new company in China called Nantong Fujitsu Microelectronics Co., Ltd., (or NFME). Fujitsu concluded an agreement on May 28 with Nantong Huada Microelectronics Co., Ltd. to set up a US$10 million joint venture company to assemble and test integrated circuit products in the city of Nantong, Jiangsu.
The new company, Nantong Fujitsu Microelectronics Co., Ltd., (or NFME), will be 40% owned by FUJITSU (CHINA) CO., LTD. and 60% held by Nantong Huada Microelectronics. Nantong Huada Microelectronics' existing factory will be used initially, with monthly handling capacity of 10 million units. A new factory, with a capacity to handle 40 million units per month, will be built during fiscal 1998.
The new company will be responsible for back-end production of logic ICs (assembly and testing), including micro controllers and linear ICs for consumer products. The company plans to expand its production lineup by adding assembly of memory products and will enhance its overall capability to handle a wider range of technologies in the future.
The expanding production of electric appliances and system products in China and Southeast Asia in recent years has created increasing demand for locally produced electronic components. Since October 1994, Fujitsu has entrusted IC back-end production to Nantong Microelectronics Company to respond to the demand. At the same time, Fujitsu has established cooperative relations in production technology with Nantong, transferring assembly technology for 48 - 80 pin packages.
As a base of IC supply not only to Japan but to Southeast Asia and within China, the new joint venture places Fujitsu in a better position to respond to various customer needs and provide more efficient services.
| Location: | No.1, Haonan Road Nantong City, Jiangsu China |
| Representative: | Shi Mingda |
| Establishment date: | end of June, 1997 |
| Joint Venture duration: | 25 years |
| Business: | Manufacture and sales of ICs and electronic components and related business |
| Legal Capital: | US$10 million |
| Shareholders: | 60% Nantong Huada Microelectronics Co., Ltd. 40% FUJITSU (CHINA) CO., LTD. |
| Employees: | 400 |
| Location: | No.1, Haonan Road Nantong City, Jiangsu China |
| Representative: | Shi Mingda |
| Sales: | 119 million Yuan (approximately 14.3 million US$) |
| Business: | Manufacture and sales of transistors and electronic products |
| Employees: | 1,050 |