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Chin-Poon sells Suzhou plant

Posted: 21 Mar 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Chin-Poon? Aspocomp?

Chin-Poon has announced the sale of its complete stake at Aspocomp Chin-Poon Holdings in Suzhou, China to strategic partner Aspocomp Group Oyj, according to a Digitimes report.

The company announced March 19 that it sold its 49 percent stake at Aspocomp Chin-Poon Holdings to Finland-based handset PCB maker Aspocomp Group. This company is a joint venture that Chin-Poon and Aspocomp Group established in 2000.

Chin-Poon believes its mission to develop business potential in China has been realized through the partnership and that it was time to adjust the relationship to better fit the interests of both parties. The Suzhou site currently houses a capacity of three million HDI boards for handsets per month.

Following the sale, the company said it is going to place its focus on PCB using high-density interconnect (HDI) technology mainly for consumer electronics, given that the industry growth for handsets is slowing down, the report said.

Chin-Poon executives said the company holds a conservative outlook over the handset HDI board business as growth in the handset market is slowing down. The company only expects its handset board sales to grow by 10 percent this year.

For its Changshu plant, Chin-Poon plans production to start gradually in the second half of 2007, following equipment installations in Q2. Monthly capacity for single-layer PCBs is planned at 1.3 million square feet, silver through hole at one million square feet, and HDI at 300,000 square feet.

Projected revenues from the Changshu site for 2007 are $21-$24 million. The company expects sales volumes to surpass $120 million in 2008. Chin-Poon is confident about performance at this site as it has already secured consumer electronics orders from Japan-based customers.

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