Philips and JSMC Team for Power Product Venture
Royal Philips Electronics (the Netherlands) and Jilin Sino-Microelectronics Co. Ltd. (JSMC) announced the establishment of a joint venture to develop, design and manufacture bipolar power products to be marketed and sold by the parent companies. Financial details of the new company, Philips Jilin Semiconductor Co. Ltd., were not disclosed.
Philips Jilin Semiconductor will serve the international and domestic markets, focusing on bipolar power products ranging from epitaxial diodes, deflection transistors, damper diodes, triacs and thyristors. The company is expected to begin operations mid-2004, supplying products in markets, including consumer electronics, white goods, lighting, power supplies and industrial.
"Philips has made substantial investments in China exceeding $2.5 billion, and we see the Jilin joint venture as a strategic continuation of this investment," stated Scott McGregor, Phillips' CEO. "JSMC has demonstrated its ability to quickly build and ramp-up production of a state-of-the art facility, and the plant location allows us to tap the skills and experience of the people in the region. We know that the technology, manufacturing and customer service expertise of the two companies will make a formidable combination."