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4-Traders Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Cirtek Holdings Philippines Corp    CHIPS   PHY1633U1098

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Cirtek Philippines : signs 3 supply deals with global tech firms

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02/17/2017 | 07:48pm CET

Feb. 18--LISTED semiconductor firm Cirtek Holdings Philippines Corp. has secured three agreements with global technology firms in a bid to expand its partners and client base.

In a statement, Cirtek said it signed a supply agreement with American electronic company Bourns Inc. that will allow Cirtek to manufacture products for Bourns. The production will include overmolded packages of Power Transient Voltage Suppressors (PTVS) and Transient Blocking Unit (TBU) products.

Under the deal, Bourns will supply the manufacturing equipment while Cirtek subsidiary Cirtek Electronics Corp. (CEC) will provide dedicated space and personnel.

The deal is in line with Bourns' goal to outsource its high-value products from reliable and competitive business partners globally who can deliver at competitive price points.

"We are honored to have been selected to support Bourn's PTVS project. Our partnership with Bourns spans

more than 10 years and we appreciate their longstanding trust in our product and service quality and execution. We will continue to provide innovative and efficient solutions to support our customers' growth and success," Jerry Liu, Cirtek chairman, said.

Craig Shipley, vice president and general manager of Bourns' communications division, said: "We continue to expand our partnership with Cirtek as we consolidate operations and continue to grow our semiconductor business. The team at Cirtek has earned a strong reputation for high quality, strong operational and engineering performance and high customer service. We will continue to look to Cirtek for support in the future."

Without disclosing names, Cirtek said it also inked agreements with two of the top 10 largest global semiconductors -- the so called Integrated Device Manufacturers (IDMs) -- to manufacture micro-electromechanical systems (MEMS) and protection devices for commercial applications.

The two deals are estimated to generate a combined $2.5 million in new revenues per year for CEC--$1.5 million for MEMS production and $1 million for protection devices. CEC will begin production of the MEMS devices by the second quarter of this year.

Cirtek manufactures semiconductors and electronics as well as radio frequency products for communication devices which it exports to the Asia-Pacific, Europe and North America.

Its subsidiaries are Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technologies and Solutions Inc. (CATS). CEC makes standard integrated circuits, discrete, hybrid and potential new packages, and provides complete turnkey solutions that include wafer probing, wafer back grinding, assembly and packaging, and final testing of semiconductor devices, catering mostly to clients in the US.

CATS manufactures, fabricates and designs the group's microwave components and subsystems for export.

___

(c)2017 The Manila Times (Manila, Philippines)

Visit The Manila Times (Manila, Philippines) at www.manilatimes.net

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Roberto Juanchito T. Dispo Vice Chairman & President
Jerry Liu Chairman
Brian Gregory T. Liu Chief Operating Officer & Director
Anthony S. Buyawe CFO, Treasurer & Executive Director
Raul B. Santiano VP-Engineering & Industrial Management
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