Phillips Electronics expands production in Shanghai

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Last updated at: (Beijing Time) Tuesday, July 29, 2003

Phillips Electronics expands production in Shanghai

The first phase of a new Integrated circuit chip production line in Shanghai, east China, of the Phillips Electronics N.V. has gone into operation.

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The first phase of a new Integrated circuit chip production line in Shanghai, east China, of the Phillips Electronics N.V. has gone into operation.

The new production line of the Advanced Semiconductor Manufacturing Corp. of Shanghai, a venture financed by Phillips, was built with an investment of 687 million US dollars and is expected to produce 30,000 8-inch chips monthly upon full operation.

Established in 1988, the company now boasts a chip factory, capable of manufacturing 40,000 five-inch chips monthly, and a factory with a monthly capacity of 30,000 six-inch chips.

With the new production line, the company's total investment will exceed 1 billion US dollars.

Phillips officials said that the company prizes the mutually beneficial relationship it has built with Chinese cooperative partners and strives for common development in the future.

Phillips expects to bring advanced sciences and technologies into China and supports China's efforts to improve its competitiveness in the semiconductor industry, said Jan Oosterveld,president of Phillips Asia businesses.

The Dutch electronic giant is a leading manufacturer of color TV sets, lighting, and medical diagnostic equipment. Its registered sales totaled 31.8 billion euros in 2002.

The company has invested in 30 enterprises in China since 1985,with a combined investment topping 2.5 billion US dollars.

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