SINGAPORE -- 03/23/2010, UNITED STATES--(Marketwire - March 23, 2010) - STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP), a leading semiconductor test and advanced packaging service provider, today announced that it has received Analog Devices, Inc. (ADI)'s 2009 Supplier Excellence Award for contracted production. This marks the second consecutive year that STATS ChipPAC has earned ADI's Supplier Excellence Award for providing full turnkey packaging and test services.
"STATS ChipPAC demonstrated outstanding supplier leadership during 2009, providing industry leading quality and operational performance through what was an extremely challenging year in the semiconductor industry. The STATS ChipPAC team delivered on all key service metrics for Analog Devices," said Liam C. McCaffrey, Director of Purchasing, Worldwide Manufacturing for Analog Devices. "We appreciate the exceptional support they provided to Analog Devices and value their collaborative approach to developing cost effective, leading-edge solutions. We congratulate STATS ChipPAC on a job well done."
"STATS ChipPAC is tremendously honored to receive ADI's Supplier Excellence Award for the second consecutive year. This award reflects our commitment to and the consistency of our operational excellence and cost competitiveness in delivering value-added solutions that successfully position our customers with a competitive edge in the market," said Wan Choong Hoe, Executive Vice President and Chief Operating Officer, STATS ChipPAC. "We are very pleased to be recognized by Analog Devices and we are committed to supporting their continued business success."
The Analog Devices Supplier Excellence Awards are earned by meeting exacting supplier rating criteria. The award recognizes companies that differentiate themselves through consistent outstanding performance, continuous improvement, and strategic contribution to Analog Devices' technology and market leadership through the anticipation and delivery of cost-reduction initiatives and exemplary commitment to manufacturing and quality.
Forward-Looking Statements
Certain statements in this release are forward-looking statements that involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, deterioration in general business and economic conditions and the state of the semiconductor industry; prevailing market conditions; demand for end-use applications products such as communications equipment, consumer and multi-applications and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; level of competition; our reliance on a small group of principal customers; our continued success in technological innovations; customer credit risks; possible future application of push-down accounting; pricing pressures, including declines in average selling prices; intellectual property rights disputes and litigation; our ability to control operating expenses; our substantial level of indebtedness and access to credit markets; our ability to generate cash; potential impairment charges; availability of financing; adverse tax and other financial consequences if the taxing authorities do not agree with our interpretation of the applicable tax laws; our ability to meet specific conditions imposed for the continued listing or delisting of our ordinary shares on the Singapore Exchange Securities Trading Limited (SGX-ST); classification of the Company as a passive foreign investment company; our ability to develop and protect our intellectual property; rescheduling or canceling of customer orders; changes in our product mix; our capacity utilization; delays in acquiring or installing new equipment; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; returns from research and development investments; changes in customer order patterns; shortages in supply of key components; disruption of our operations; loss of key management or other personnel; defects or malfunctions in our testing equipment or packages; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; majority ownership by Temasek Holdings (Private) Limited ("Temasek") that may result in conflicting interests with Temasek and our affiliates; unsuccessful acquisitions and investments in other companies and businesses; labor union problems in South Korea; uncertainties of conducting business in China and changes in laws, currency policy and political instability in other countries in Asia; natural calamities and disasters, including outbreaks of epidemics and communicable diseases; and other risks described from time to time in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F dated March 5, 2010. You should not unduly rely on such statements. We do not intend, and do not assume any obligation, to update any forward-looking statements to reflect subsequent events or circumstances.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions in diverse end market applications including communications, digital consumer and computing. With global headquarters in Singapore, STATS ChipPAC has design, research and development, manufacturing or customer support offices in 10 different countries. STATS ChipPAC is listed on the SGX-ST. Further information is available at www.statschippac.com. Information contained in this website does not constitute a part of this release.
Contact Information:
Investor Relations Contact:
Tham Kah Locke
Vice President of Corporate Finance
Tel: (65) 6824 7788, Fax: (65) 6720 7826
email: