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SPEL signs MoU with Chinese firm

Special Correspondent

To set up a facility in Guangdong

CHENNAI: SPEL Semiconductor Ltd., a semiconductor IC (integrated circuits) assembling and testing company, has signed a memorandum of understanding (MoU) with Silicon Core Technologies of China to set up a facility in Guangdong Province of China.

The MoU was signed with a delegation from Zhaoping High Technology Development Zone of China here on Tuesday at an interactive business meeting organised by the Southern India Chamber of Commerce and Industry (SICCI).

Following the MoU, SPEL will provide the Chinese company its IC packages and testing equipment.

Ar Rm Arun, Vice-Chairman of SPEL Semiconductor, told this correspondent that, "We have showed our base level of interest with this (signing of MoU)."

He said SPEL would get some equity in the venture (for supply of technology and equipment).

"We will move forward on fresh investment into the venture depending on the kind of incentives we get from the Government," he added. This was the first time that SPEL was investing outside the country.

A company spokesman said SPEL would also supply back-up personnel support by deploying its own men at the upcoming new facility of Silicon Core Technologies. It would be more in the nature of a technology tie-up, the spokesman elaborated.

The Chinese company is now a client of SPEL. Silicon Core Technologies, it is learnt, is engaged in the manufacture of electronic devices.

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