Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 
The feature you requested does not exist. However, we suggest the following feature:

Brazil investment plan under discussion: Taiwanese IC company

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/23/2017 | 01:27pm CET

Taiwan-based Advanced Semiconductor Engineering Inc. (ASE), the world's largest integrated circuit packaging and testing firm, said Thursday that an investment plan in Brazil remains under discussion.

ASE's comments came after local media reported that it has joined forces with Qualcomm Inc., a U.S. smartphone chip designer, to build an IC packaging and testing plant in Brazil.

The Chinese-language Commercial Times cited sources close to the deal as saying that ASE and Qualcomm have signed a memorandum of understanding (MOU) with the Brazilian government for the investment plan, in which the two IC giants aim to build a production site in Sao Paulo, the country's largest city.

In response to the report, ASE said that the MOU was inked on March 8 but is not binding.

ASE said that the investment plan needs further discussion, adding that after the parties in the deal reach a formal agreement, the IC firm will disclose the details about the investment to investors in accordance with the rules in the local equity market.

In the report, the sources said that ASE, Qualcomm and the Brazilian government are planning to invest US$200 million in the Sao Paulo plant in the initial phase.

The planned production complex will be located in Sao Paulo's Campinas, where South Korea's Samsung Electronics Co. and China's Lenovo Group Ltd. have plants, the report said. The report added that the new plant targets the fast-growing smartphone market in Brazil, which has a population of more than 200 million.

The report added that the Brazilian government has come up with preferential measures to attract foreign investors, which is why ASE and Qualcomm have decided to go there. In addition to Taiwan, ASE has footholds in several countries such as Malaysia, Japan, South Korea, China, Singapore and the United States, according to the company's website.

The Brazil investment is expected to allow ASE to have a comprehensive global investment roadmap, the sources said in the report, adding that the Sao Paolo plant is expected to focus on IC packaging and testing services for high-end smartphone chips and chips used in the Internet of Things. The sources said that if the investment plan proceeds smoothly, the Brazilian plant will become operational in 2018.

Despite the investment plan, shares of ASE remained in the doldrums in line with the broader market, down 0.13 percent at NT$39.40 (US$1.29) on the Taiwan Stock Exchange as of 11:29 a.m.

© Pakistan Press International, source Asianet-Pakistan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
01:27p BRAZIL INVESTMENT PLAN UNDER DISCUSSION : Taiwanese IC company
01:27p DIRECTOR DEALINGS : Hikma Executive Sells 43,000 Shares
01:27p ABN AMRO : Transavia travellers try out Tikkie app
01:26p Crunch week looms for Sanofi, Roche and GSK at U.S. drugs agency
01:25p WAL MART STORES : Murder victim's father testifies about last day with son
01:25p CRYOLIFE INC : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
01:25p Veriteq CEO Releases Letter to Shareholders
01:24p ANGLO AMERICAN : Diamond group De Beers buys out retail partner LVMH
01:24p CUB ENERGY INC. : Announces Q4 2016 Financial and Operational Results
01:24p DBV TECHNOLOGIES : Announces Filing of its 2016 "Document de Rfrence" and Annual Report on Form 20-F
Latest news
Advertisement
Hot News 
-4.03%BASIC FIT : core earnings rise on record number of new gym openings
7.13%NEXT : Investors find some comfort in Next's chilly outlook
-3.15%IG : quarterly revenue falls 3.8 percent on UK, Ireland weakness
-5.21%TED BAKER : Retailer Ted Baker's profit rises on strong UK, Europe sales
2.05%GVC : to pay second special dividend for 2016 on favourable trading, refinancing
Most Read News
04:02a Verizon, AT&T suspend ads from Google over offensive videos
06:51a NEXT : Investors find some comfort in Next's chilly outlook
03/22DJAT&T Pulling Ads From Google Over 'Hate' Videos -- 3rd Update
03/22DJSEARS : Stock Stumbles After Going-Concern Warning -- 3rd Update
05:10a UBS : set to charge wealthy for keeping euro savings
Most recommended articles
03/21 UK to investigate any UK banking involvement in 'Laundromat' case
08:24a ANGLO AMERICAN : Diamond group De Beers buys out retail partner LVMH
08:23aDJDAIMLER : Faces Diesel-Engine Fraud Investigation in Germany--Update
08:16aDJSAMPO OYJ SAMPO PLC : Disclosure Under Chapter 9 Section 5 Of The Securities Market Act
08:15a AKZO NOBEL CEO : won't meet with PPG to talk about bid