Taiwan's ASE, Dutch NXP to inject 36 million dollars into China joint firm

AFP, July, 2007

TAIPEI (AFP) — Taiwan's Advanced Semiconductor Engineering (ASE) and NXP Semiconductors of the Netherlands will invest an initial 36 million dollars into a joint venture in China, an ASE spokesman said Monday.

ASE will take a 60 percent stake in the project in Suzhou, eastern Jiangsu province, while NXP will hold the remaining 40 percent.

The joint venture, expected to begin operations later this year, is to provide integrated circuit packaging and testing services, the spokesman said.

"The 36 million dollars will be an initial investment. We are expecting to put more funds into the project but the amount will depend on market conditions," he said.

NXP was the former Philips Semiconductors, a unit of Royal Philips Electronics NV of the Netherlands....