March 8, 2001–Chandler, Arizona–Amkor Technology is continuing the momentum of its growth strategy in Asia by acquiring two established semiconductor assembly and test companies in Taiwan, enabling the company’s rapid entry into that nation’s growing semiconductor industry.
In separate transactions, Amkor will acquire Taiwan Semiconductor Technology Corp. (TSTC) of Linkou, and Sampo Semiconductor Corp. (SCC) of Lung-Tang. Both companies have signed letters of intent, enabling negotiations to proceed. The agreements are expected to be finalized in April. Terms of the proposed acquisitions were not disclosed. The two companies, which have combined revenues of approximately $100 million, produce many of the high-demand semiconductor package devices required for cell phones, computers, handheld-devices, and other popular applications.
“This is a first step in establishing a major Amkor presence in Taiwan,” says Amkor Chairman and CEO Jim Kim. “We have had a goal to establish production capability near the vast cluster of semiconductor wafer fabs in Taiwan. Now, we will have two facilities and can begin immediately serving existing customers while we seek new business from among companies using the local wafer fabs.”
These acquisitions are a continuation of Amkor’s announced expansion and geographic positioning roadmap. Amkor recently formed a joint venture with Toshiba in Japan, and also announced the establishment of a new assembly and test facility near Shanghai, China.