Singapore – December 24, 2019 – JCET Group Co., Ltd (‘JCET’) has entered into a strategic business agreement with Analog Devices Inc. (‘ADI’) in which JCET will acquire ADI’s test facility in Singapore. As part of this agreement, JCET will take on additional ADI test business in this newly acquired facility. The final transfer of ownership of the ADI Singapore test facility to JCET will be completed May 2021.
“This agreement with our long time assembly and test partner JCET will allow ADI to take advantage of the operational and test engineering expertise we have experienced for many years as a customer in their Singapore plant” stated Steve Lattari, Senior Vice President of Global Operations and Technology at ADI. “We anticipate a smooth transition as we work together to make this new part of our relationship happen,” continued Lattari.
“ADI has been a highly valued and long standing customer of JCET. This opportunity to both grow our test floor footprint in Singapore and more importantly our business with ADI is a win-win for our companies,” stated Li Zheng, CEO of JCET Group. “JCET’s investment in this Singapore facility also shows that as a multinational semiconductor company, we will continue to steadily strengthen our global expansion and provide first-class integrated circuit products and advanced technical services to international and local customers,” continued Mr. Zheng.
JCET Group has six factories located in China, Singapore and Korea. Its Singapore facility was established in 1994 as the first Outsourced Semiconductor Assembly and Test (OSAT) provider in Singapore. JCET Singapore’s test services include wafer sort, final package test, strip test, wafer bump and all wafer level products.
Certain of the statements in this release, including statements regarding the Company’s intellectual property, are forward-looking statements that are based on management’s current views and assumptions and involve a number of risks and uncertainties which could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, general business and economic conditions and the state of the semiconductor industry; prevailing market conditions; demand for end-use applications products such as communications equipment, consumer and multi applications and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; level of competition; our reliance on a small group of principal customers; our continued success in technological innovations; pricing pressures, including declines in average selling prices; intellectual property rights disputes and litigation; our ability to control operating expenses; our substantial level of indebtedness and access to credit markets; potential impairment charges; availability of financing; changes in our product mix; our capacity utilization; delays in acquiring or installing new equipment; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; returns from research and development investments; changes in customer order patterns; customer credit risks; disruption of our operations; shortages in supply of key components and disruption in supply chains; disruption of our operations and other difficulties related to the relocation of our China operations; loss of directors, key management or other personnel; defects or malfunctions in our testing equipment or packages; rescheduling or canceling of customer orders; adverse tax and other financial consequences if the taxing authorities do not agree with our interpretation of the applicable tax laws; our ability to develop and protect our intellectual property; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; beneficial ownership by JCET Group Co., Ltd. (“JCET”) of all of our ordinary shares that may result in conflicting interests with other holders of our securities; our inability to capture all or any of the benefits from acquisitions and investments in other companies and businesses or from the acquisition of us in August 2015 by JCET-SC (Singapore) Pte, Ltd., which is now wholly-owned by JCET; loss of customers or failure to compete effectively with our former Taiwan subsidiaries which we have divested in 2015; labor union problems in South Korea; uncertainties of conducting business in China and changes in laws, currency policy and political instability in other countries in Asia; natural calamities and disasters, including outbreaks of epidemics and communicable diseases; and other risks. All our forward looking statements are expressly qualified in their entirety by the cautionary statements set forth above. You should not unduly rely on such forward-looking statements, which speak only as of the date of this release. JCET does not intend, and does not assume any obligation to update any industry information or forward-looking statements to reflect subsequent events or circumstances. In light of these risks, uncertainties and assumptions, any of the events anticipated in these forward-looking statements might not occur.
Founded in 1972, JCET Group Co., Ltd. (“JCET”) is one of the top semiconductor packaging and test providers in the world and the largest provider in China. With full turnkey services encompassing design and characterization, wafer bump, packaging and test, JCET is a strategic partner for semiconductor companies across a broad range of markets and applications. The comprehensive packaging portfolio of JCET and its subsidiaries include discrete, leaded, laminate, flip chip, Molded Interconnect System, wafer level packaging and System-in-Package technologies. Headquartered in Jiangyin, Jiangsu, China, JCET has an extensive global manufacturing base with operations in China, Singapore and South Korea. JCET is a publicly-traded company that is listed on the Shanghai Stock Exchange. Further information is available at www.jcetglobal.com.
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