Powerchip to invest in China
Powerchip Semiconductor Corp. (力晶半導體), Taiwan's largest maker of computer-memory chips, aims to invest 2.4 billion yuan (US$290 million) in China, the SinoCast news service reported, citing a company executive.
The company plans to move an existing chip plant to China from Taiwan, the report said, citing Powerchip President Brian Shieh (謝再居). The plan may take two years to achieve, pending the approval of the Taiwan government.
The company has said it is interested in starting its first chip plant in China to get closer to customers. Taiwan's government has restricted investment by the island's chipmakers in China on concern it may lose jobs and technology to its political rival.
Taiwan Semiconductor Manufacturing Co. (台積電), the world's largest supplier of made-to-order chips, last year became the island's first chipmaker to start production in China.
HannStar shares rise
HannStar Display Corp. (瀚宇彩晶), a Taiwan maker of flat-panel displays used in computers and televisions, raised US$263 million selling new shares abroad to help finance a new plant.
The company sold 768 million shares, packaged into 38.4 million depositary receipts priced at US$6.85 each, equal to NT$10.66 a share domestically, HannStar said in a statement. The price is a 3.5 percent discount to Thursday's closing price of NT$11.05.
HannStar will use the proceeds to expand production at a so-called sixth-generation plant that can make television-sized screens measuring 30 inches diagonally and larger. HannStar hired UBS AG to manage the sale.
Shares of HannStar yesterday rose NT$0.1 to NT$11.15 per share.
Chinatrust has new president
Chinatrust Financial Holding Co. (中信金), Taiwan's sixth-biggest financial services company, appointed the head of its flagship bank, Eric Chen (陳聖德), as its new president in charge of daily operations.
Chen, president of Chinatrust Commercial Bank (中信銀), Taiwan's largest credit card issuer, will become president of the holding company, replacing Jeffrey Koo, Jr. (辜仲諒), who will become vice chairman of Chinatrust Financial, the company's statement said.
Steven Cheng (陳俊哲), chief financial officer of Chinatrust Financial, will become president of corporate banking, and Steve Chou (周榮生) will become president of consumer banking, the lender said.
The company plans to boost its workforce by a third this year as it expands its business, according to a statement on Jan. 20. The company, which has about 9,000 employees, will hire 3,000 additional workers in Taiwan and 100 overseas, it said.
Esec Holding to supply ASE
Esec Holding, the assembly and packaging division of Unaxis Holding AG, will supply Taiwan's Advanced Semiconductor Engineering Inc. (ASE, 日月光) with bonding equipment.
ASE, the world's largest independent provider of semiconductor packaging, has placed an order for Esec's Wire Bonders 3100, according to a statement on Business Wire released by Unaxis today. ASE has been using Esec's die bonding equipment for many years.
``We are proud that we were chosen as a partner by the market leader. This clearly shows the confidence and trust ASE places in us, our processes and machines,'' said Jurgen Steinbichler, President Unaxis Switzerland Ltd.
NT at highest level since 2000
The New Taiwan dollar yesterday pared gains after rising to its highest level since September 2000 on speculation the central bank sold the currency to protect exporters' profits. The currency closed at NT$31.175 against its US dollar counterpart on the Taipei Foreign Exchange. The turnover was US$1.194 billion.
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