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UK's IQE to take over Singapore joint venture

Reuters
Reuters10/10/2019 03:49 PM GMT+08  • 2 min read
UK's IQE to take over Singapore joint venture
(Oct 10): Cardiff-based IQE Plc said on Thursday it would take complete ownership of its loss-making joint venture in Singapore to capitalize on supply chains in the Asian country and China’s 5G market, sending its shares 5% higher.
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(Oct 10): Cardiff-based IQE Plc said on Thursday it would take complete ownership of its loss-making joint venture in Singapore to capitalize on supply chains in the Asian country and China’s 5G market, sending its shares 5% higher.

IQE, which makes semiconductor wafers for chips used in Apple Inc products, also manufactures for Asian customers in Taiwan and Singapore. It has banked on the region for significant new orders amid the tariff dispute between the United States and China.

The joint venture, CSDC Private Ltd, was formed in 2015 by its Singaporean unit MBE Technology with WIN Semiconductors and Nanyang Technological University to develop and compound semiconductor technologies.

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