SAN DIEGO & SINGAPORE--(BUSINESS WIRE)--Jeff Immelt, Chairman of the Board and Chief Executive Officer of General Electric, presented a commemorative award to Wan Choong Hoe, Executive Vice President and Chief Operating Officer, of STATS ChipPAC Ltd. at the Tower Club in Singapore. The award was presented in celebration of the ten-year relationship between GE Capital Solutions, Global Electronics Services (GES) and STATS ChipPAC and the attainment of US$ 320 million in cumulative leasing volume. STATS ChipPAC, a leading service provider of semiconductor packaging design, assembly, test and distribution solutions, has looked to GES for leasing and financing solutions on numerous occasions over their long-standing association.
"The length of our close relationship with STATS ChipPAC is a testament to the success of our Acquire, Use, RemarketSM model. GES actively manages every facet of STATS ChipPAC's asset portfolio, beginning with customized leasing solutions in the Acquire phase, optimizing equipment utilization through tool swaps, lease extensions and asset relocations in the Use phase, and finally helping to dispose of idle equipment in the Remarket phase," commented Melvin Low, Asia Managing Director for GES. "GES' global footprint, particularly in Asia, also plays a critical role in our relationship and allows us to support STATS ChipPAC's continued business expansion throughout this region."
Almost half of the total lease volume of US$ 320 million has been generated within the last three years, which is indicative of the increase in influence and importance of Asia in the semiconductor industry.
Tan Lay Koon, President and Chief Executive Officer of STATS ChipPAC, said, "GE has been a valued partner to us and has been able to support us with flexible products in all the countries where we operate. We look forward to GE's continued support in the future as we invest to meet our customers' growing needs."
About GE Capital Solutions, Global Electronics Services
GE Capital Solutions, Global Electronics Services (GES), a unit of GE Commercial Finance and headquartered in San Diego, California, is the leading global expert in delivering customized asset management services (Acquire, Use, RemarketSM) to electronics manufacturers of semiconductor fabrication (FAB), automated test equipment (ATE), printed circuit board assembly (PCA) and flat panel display (FPD) equipment. Through its worldwide network, GES provides a host of flexible financing and leasing solutions, product insights and market intelligence, as well as efficient remarketing services that reduce customer risk and increase their return on investment. For more information, visit www.geelectronicsweb.com.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $232 billion and is headquartered in Stamford, Connecticut.
About General Electric
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at ge.com.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company" --- NNM: STTS and SGX-ST: STATSChP) is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions. A trusted partner and supplier to leading semiconductor companies worldwide, STATS ChipPAC provides fully integrated, multi-site, end-to-end packaging and testing solutions that bring products to the market faster. Our customers are some of the largest wafer foundries, integrated device manufacturers (IDMs) and fabless companies in the United States, Europe and Asia. STATS ChipPAC is a leader in mixed signal testing and advanced packaging technology for semiconductors used in diverse end market applications including communications, power, digital consumer and computing. With advanced process technology capabilities and a global manufacturing presence spanning Singapore, South Korea, China, Malaysia and Taiwan, STATS ChipPAC has a reputation for providing dependable, high quality test and packaging solutions. The Company's customer support offices are centered in the United States (California's Silicon Valley, Arizona, Texas, Massachusetts, Colorado and North Carolina). Our offices outside the United States are located in South Korea, Singapore, China, Malaysia, Taiwan, Japan, the Netherlands and United Kingdom. STATS ChipPAC's facilities include those of its subsidiary, Winstek Semiconductor Corporation, in Hsinchu District, Taiwan. These facilities offer new product introduction support, pre-production wafer sort, final test, packaging and other high volume preparatory services. Together with our research and development centers in South Korea, Singapore, Malaysia, China, Taiwan and the United States as well as test facilities in the United States, this forms a global network providing dedicated test engineering development and product engineering support for customers from design to volume production. STATS ChipPAC is listed on both the Nasdaq Stock Market and the Singapore Exchange Securities Trading Limited. In addition, STATS ChipPAC is also included in the Morgan Stanley Capital International (MSCI) Index and the Straits Times Industrial Index. Further information is available at http://www.statschippac.com. Information contained in this website does not constitute a part of this release.
Contacts
GE Capital Solutions, Global Electronics Services
Richard Huang, +65-6431-9316
Director of Financing - Singapore
[email protected]
or
Diego Villamizar, +858-320-7340
Marcom Leader - US
[email protected]
Stephen White