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STATS ChipPAC Receives Intel's Prestigious Supplier Continuous Quality Improvement Award
| Source: STATS ChipPAC
SINGAPORE--03/05/2009, UNITED STATES--(Marketwire - March 4, 2009) - STATS ChipPAC Ltd. has
received Intel Corporation's prestigious Supplier Continuous Quality
Improvement (SCQI) award recognizing world-class, outstanding performance
in 2008. This award is Intel's highest honor for its suppliers,
acknowledging extraordinary commitment to quality and exceptional
performance for providing full turnkey packaging and test services deemed
essential to Intel's success. STATS ChipPAC is among an elite group of 14
suppliers to receive the SCQI award for 2008.
"STATS ChipPAC is extremely honored to receive Intel's prestigious SCQI
award. This is the second time we have achieved the SCQI award and our
third consecutive quality award since adopting Intel's Quality Operating
System Plus (QOS+) in 2006. We are proud of the performance results we have
achieved and remain dedicated to supporting Intel with best-in-class
packaging and test services," said Tan Lay Koon, President and Chief
Executive Officer, STATS ChipPAC.
"Our sincere congratulations to STATS ChipPAC for their accomplishments
this year. We are pleased to recognize their outstanding contributions and
strong commitment to quality, cost reductions, delivery, customer support
and alignment to Intel's technology roadmap," said Craig Brown, Vice
President, Technology and Manufacturing Group and Director of Materials,
Intel Corporation.
The SCQI award is part of Intel's Supplier Continuous Quality Improvement
program, which encourages Intel's key suppliers to strive for excellence
and continuous improvement. To qualify for SCQI status, suppliers must
score at least 95 percent on a report card that assesses performance and
ability to meet cost, quality, availability, delivery, technology and
responsiveness goals. Suppliers must also manage and deliver on a
challenging improvement plan and a quality/business systems assessment.
Furthermore, this year's awardees had to demonstrate basic compliance to
the Electronic Industry Code of Conduct and Intel's Green Sustainability
Program. Additional information about the SCQI program is available at
http://supplier.intel.com/quality/scqi.htm.
Celebrations will be held in Tokyo, Japan and Santa Clara, California
during the month of March 2009 to honor the SCQI award winners. In
addition, there will be an online advertisement launch and acknowledgement
on Intel's website.
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, general business and economic conditions and the state of the
semiconductor industry; level of competition; demand for end-use
applications products such as communications equipment and personal
computers; decisions by customers to discontinue outsourcing of test and
packaging services; our reliance on a small group of principal customers;
our continued success in technological innovations; pricing pressures,
including declines in average selling prices; availability of financing;
prevailing market conditions; our ability to meet the applicable
requirements for the termination of registration under the Exchange Act;
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); our substantial level of indebtedness; potential
impairment charges; delays in acquiring or installing new equipment;
adverse tax and other financial consequences if the South Korean taxing
authorities do not agree with our interpretation of the applicable tax
laws; our ability to develop and protect our intellectual property;
rescheduling or canceling of customer orders; changes in our product mix;
intellectual property rights disputes and litigation; our capacity
utilization; limitations imposed by our financing arrangements which may
limit our ability to maintain and grow our business; 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 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 SEC filings, including its annual report on Form 20-F
dated March 7, 2008. 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.
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