Silicon Integrated to spin off plant

September 15, 2003 – Taiwanese chipset maker Silicon Integrated Systems Corp. (SiS) says its board of directors has approved a plan to spin off its 8-in. wafer fab into a fully-owned subsidiary, stifling rumors of a possible sale to major shareholder United Microelectronics Corp., according to Dow Jones.

The new subsidiary, SiS Microelectronics, will have an initial capitalization of $234 million, with $505 million in assets and $266 million in equity, and $240 million in liabilities.

Chairman John Hsuan says the deal will help SiS focus on chip design and development. Stockholders will meet on November 10 to vote on the proposal.

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.