Two of Taiwan's largest semiconductor packaging and testing companies agreed to merge yesterday, creating a powerful new player in the industry with paid-in capital estimated at NT$16.2 billion after the merger is complete.
Taichung-based Siliconware Precision Industries Co (SPIL,
The two companies currently serve most of the nation's 40 semiconductor companies, including key chipmakers Taiwan Semiconductor Manufacturing Co (TSMC,
The merger agreement, approved yesterday afternoon by the boards of directors of both companies, will entail an exchange of stock shares at a ratio of 1 to 0.6, SWC to SPIL. The exchange figure is based on the two companies' book values as of June 30, 2000 and the potential for future profitability, according to SPIL.
The two companies plan to consolidate the merger on Dec. 30, 2000, after which time, the resulting company will be known only as Siliconware Precision Industries Co (SPIL).
SWC, established in May 1993, is a professional IC testing company and mainly focuses on logic and mixed signal testing. SPIL offers three IC packaging plants and one testing plant, with total plant floor space exceeding 84,150m2.
The two companies currently cooperate on both standard and customized packaging and testing for semiconductor manufacturers, and also offer turnkey solutions that help shorten shipment times of finished chip products.
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