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| ON Semiconductor completes incremental 20 percent share purchase of Fujitsu's 8-inch wafer fab in Aizu-Wakamatsu, Japan, resulting in 60 percent ownership |
YOKOHAMA, Japan, Oct 2, 2018 - (JCN Newswire) - ON Semiconductor Corporation and Fujitsu Semiconductor Limited today announced that ON Semiconductor will complete the incremental 20 percent share purchase of Aizu Fujitsu Semiconductor Manufacturing Limited, Fujitsu's 8-inch wafer fab in Aizu-Wakamatsu, on October 1, 2018. ON Semiconductor will hold a 60 percent majority ownership in the joint venture, and a brand transition will occur following the October 1 close. Consequently, the company name of Aizu Fujitsu Semiconductor Manufacturing Limited will transition to ON Semiconductor Aizu Co., Ltd on October 1, 2018. The two companies entered into an agreement in 2014 under which ON Semiconductor obtained a 10 percent ownership interest in Fujitsu's Aizu 8-inch fab. Initial transfers began in 2014, and successful production and ramp up of wafers began in June 2015. In October 2017, the two companies further agreed an incremental share purchase of Fujitsu's Aizu 8-inch fab by ON Semiconductor, and based on the agreement ON Semiconductor increased its ownership interest in Fujitsu's Aizu 8-inch fab to 40 percent in April 2018. ON Semiconductor continues to increase production at the Aizu 8-inch fab, and both companies believe that further strategic partnership will maximize the value for both companies. ON Semiconductor plans to increase its ownership to 100 percent in the first half of 2020. This additional capacity will allow ON Semiconductor to continue to scale its operations to meet forecasted demand and enable increased supply chain flexibility.
About ON Semiconductor
ON Semiconductor (Nasdaq: ON) is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. The company's products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical, aerospace and defense applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, a robust compliance and ethics program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe and the Asia Pacific regions. For more information, visit http://www.onsemi.com.
About Fujitsu Semiconductor
Fujitsu Semiconductor Group includes a system memory group that is focused on high quality, high performance Ferroelectric random access memory (FRAM), wafer foundry group that has excellent technology and support, and the sales business of Fujitsu Electronics and overseas sales companies. Headquartered in Yokohama, we established as a subsidiary of Fujitsu Limited on March 21, 2008. Through its global sales and development network, with sites in Japan and throughout Asia, Europe, and the Americas, we offer semiconductor solutions to the global marketplace. For more information, visit http://www.fujitsu.com/jp/fsl/en/
Contact:
Kris Pugsley
Corporate Communications / Media Relations Development
ON Semiconductor
Tel: (312) 909-0661
E-mail: kris.pugsley@onsemi.com
Parag Agarwal
Vice President Investor Relations and Corporate Development
ON Semiconductor
Tel: (602)244-3437
E-mail: investor@onsemi.com
Fujitsu Limited
Public and Investor Relations
Tel: +81-3-3215-5259
URL: www.fujitsu.com/global/news/contacts/
Topic: Press release summary
Source: Fujitsu Ltd
Sectors: Electronics
https://www.acnnewswire.com
From the Asia Corporate News Network
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