Hynix and ON Semiconductor Sign Agreement

June 19, 2003 by Jeff Shepard

ON Semiconductor Corp. (Phoenix, AZ) and Hynix Semiconductor Inc. (Ichon, Korea), a worldwide semiconductor foundry, announced that ON Semiconductor has signed a multi-year, renewable agreement establishing Hynix as a volume supplier of CMOS manufacturing services. Under terms of the agreement, Hynix will supply production support to ON Semiconductor for its power management products.

"This agreement with ON Semiconductor is an important milestone in our strategy to grow our foundry services business, and to deliver premier products to customers today and into the future," said Channy Lee, vice president and general manager of the foundry business unit for Hynix. "ON Semiconductor is a market leader of integrated power devices. Our semiconductor manufacturing services expertise will help ON Semiconductor expand its leadership position into the consumer, PC and industrial markets by offering ON Semiconductor cost savings and easier design flexibility."