Philips
NXP and firm Private Equity Asset Management Chinese Jianguang Establish Joint Venture Semiconductor.
Powerhouse combines bipolar power technology advanced NXP and JAC Capital connections to industry and the Chinese government.
Eindhoven, Netherlands, February 19, 2015 - NXP Semiconductors NV NXPI NASDAQ and China investment company owned by the state Jianguang Asset Management Co Ltd JAC Capital announced today that they have signed an agreement with the intent to establish a joint venture in China JV the JV is intended to combine NXP's advanced technology of its bipolar supply industry with capital JAC strong connections in the Chinese manufacturing network and distribution channels to reduce manufacturing costs and increase profit margins for high-end electronic products in China the transaction is subject to execution of definitive agreements and the approval of the competent authorities, and is expected to close later this year.
The new JV will seek to seize opportunities arising from the growing demand in China for electronic products in the consumer sectors of automobile manufacturing, intelligent and modern medical equipment of Chinese government policies offer excellent incentives to the sector high technology, including semiconductors, which will accelerate the growth of the industry in the coming years.
The JV represents a new stage in China NXP's strategy to strengthen links with decision makers, customers and partners to better align local guidelines and best long-term business practices JAC Capital established relationships with Chinese government and finance industry will ensure successive injection of capital investment to support research and development of new products and market expansion in China and worldwide After regulatory approvals, the agreement provides JAC capital holding a 51 participation in the JV and NXP 49 taking the remainder.
The Chinese electronics market has great potential and offers unique opportunities for NXP to further accelerate the growth of our business, we see an increasing demand for high performance and high value-added products and this joint venture, we will be in a even stronger position to meet those needs, said Frans Scheper, executive vice president and general manager of the company standard products, we will greatly benefit NXP Semiconductors JAC Capital Government and industry network in China, and we will be able to win even reach the market as a real Chinese business, which allows us to offer the best service possible to our customers worldwide customer and offer the greatest competitive advantages.
JAC Capital hopes to build a long term partnership with NXP and provide financial and industrial support for the JV to expand its semiconductor production market in China and worldwide, said William Sun, general manager of JAC Capital With NXP's leadership in the semiconductor industry and the strong support of the government by the JAC capital partners, the rapid further development of the JV will be beneficial for both sides and greatly promote the local industry of China and the economy.
Beijing Jianguang Asset Management Co Ltd Short JAC Capital is a subsidiary of JIC Capital is an investment group owned JAC Capital was created to invest in high-tech industry, including integrated circuits and semiconductors, computer network, data service, cloud computing and telecommunications with the support of its shareholders of financial institutions and governments, JAC capital partners with Chinese industrial leaders in various industries and made investments in targeted high-tech industry to support the continued development of the local economy and industrial transformation strategy of China.
NXP Semiconductors NV NXPI NASDAQ creates solutions that enable secure connections for a smarter world building on its expertise in high performance mixed signal electronics, NXP is driving innovation in application fields Connected Car, Security, Portable Wearable and Internet NXP objects has operations in more than 25 countries and posted revenue of 5 to 65 billion by 2014 for more information.
NXP and firm Private Equity Asset Management Semiconductor Chinese Jianguang Establish Joint, Chinese private equity.
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