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NXP, JAC Capital complete joint venture in China

Posted: 11 Nov 2015 ?? ?Print Version ?Bookmark and Share

Keywords:NXP Semiconductors? JAC Capital? joint venture? WeEn Semiconductors? manufacturing?

NXP Semiconductors N.V. and Beijing JianGuang Asset Management Co. Ltd (JAC Capital) have successfully completed the transaction under which it established Bipolar Power joint venture (JV) WeEn Semiconductors in China following the clearance of regulators. The intention to set-up this JV was originally announced on February 19 this year.

WeEn combines NXP's advanced technology from its Bipolar Power business line with JAC Capital's strong connections in the Chinese manufacturing network and distribution channels to lower manufacturing costs and boost profit margins of high end electronic products in China. JAC Capital has a 51 per cent stake in WeEn while NXP owns the remainder.

WeEn will seek to capture the opportunities arising from China's growing demand for electronic products in the consumer, automotive, smart manufacturing and medical equipment sectors. Current Chinese government policies provide great incentives to the high tech sector, including semiconductors, which will accelerate the growth of the industry in the next few years.

In addition to the completed transaction, NXP and JAC are in the final stages of the regulatory approval process in respect of the acquisition by JAC of NXP's RF power business, which is targeted to close on December 7, next year.

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