PSPC parent company renamed – Friday, 01 April 2016

Phoenix Semiconductor Philippines Corp. (PSPC) yesterday said its parent company, STS Semiconductor and Telecommunications Co. Ltd., has been renamed SFA Semicon Co., LTD (SFA Semicon).
SFA Semicon’s board of directors approved the change in corporate name to reflect the majority ownership of the SFA Engineering Corp. which now holds 45.54 percent equity shareholding of STS Semiconductor & Telecommunications Co. Ltd.
The company took note that the acquisition of the majority stake in the former STS was aimed to improve operating efficiencies and create synergy and avail of greater opportunities in the global semiconductor industry.
The balance of the 54.46 percent ownership of the former STS is in the hands of public investors. The Bokwang group has retained a minority interest.
STS owns about 85 percent of PSPC, one of the country’s largest exporters of semi-conductor products with more than $2.10 billion in export value sales in 2015.
PSPC specializes in the contract assembly, packaging and test of memory modules, chips and branded memory cards for Samsung Electronics of Korea.
SFA Engineering Corp. is listed on the Korea Stock Exchange and has been named by Forbes magazine as among the Top 200 emerging companies in Korea. It is a manufacturer of automated production equipment for the semiconductor industry.

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