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Jul 21, 2005
ChipMOS And Novatek Extend Long-Term Agreement
ChipMOS And Novatek Extend Long-Term Agreement
HSINCHU, Taiwan, July 21, 2005 - ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or "the Company") (Nasdaq: IMOS) announced today that its 70% owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), has extended its long-term agreement with Novatek Microelectronics Corp., Ltd. ("Novatek") through 2008. The two companies have worked together since 2003.
Under the new contract, Novatek has revised its future requirements of Tape-Carrier-Package/Chip-On-Film ("TCP/COF") with significant increasing numbers of demand to ChipMOS and will shift additional percentage increases of Chip-On-Glass ("COG") business to ChipMOS. ChipMOS Taiwan commits to reserving the required capacity for LCD Driver IC assembly and testing services for Novatek until the end of 2008.
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Novatek is a global leader in the LCD driver IC market and an important strategic customer to ChipMOS. We are pleased to extend our long-term, mutually beneficial relationship. We remain committed to providing the vertically integrated testing and assembly services that have made our relationship a success."
About Novatek Microelectronics Corp., Ltd.
Founded in May 1997 and formally known as UMC Commercial Product Division, Novatek specializes in the R&D, design, manufacture management, and sale services of ICs. It has since its inception been accurately capturing industry trends and actively engaging itself in product line transformation based on the philosophy of innovation, quality, and service, thereby successfully becoming an IC design house with display and image processing technologies as the axis. Its product range encompasses LCD driver and controller ICs, video display, commercial and IM products. In order to increase technological advantages and competitiveness, it has recently extended its field of expertise to encompass the digital video and digitized image sectors and is gradually shifting towards single chip solutions of high added value.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.
ChipMOS ( www.chipmos.com.tw ) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
Contact:
In Taiwan R.O.C.
Dr. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com.tw
In the U.S.
David Pasquale
The Ruth Group
Tel: +1-646-536-7006
Email: dpasquale@theruthgroup.com
Under the new contract, Novatek has revised its future requirements of Tape-Carrier-Package/Chip-On-Film ("TCP/COF") with significant increasing numbers of demand to ChipMOS and will shift additional percentage increases of Chip-On-Glass ("COG") business to ChipMOS. ChipMOS Taiwan commits to reserving the required capacity for LCD Driver IC assembly and testing services for Novatek until the end of 2008.
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Novatek is a global leader in the LCD driver IC market and an important strategic customer to ChipMOS. We are pleased to extend our long-term, mutually beneficial relationship. We remain committed to providing the vertically integrated testing and assembly services that have made our relationship a success."
About Novatek Microelectronics Corp., Ltd.
Founded in May 1997 and formally known as UMC Commercial Product Division, Novatek specializes in the R&D, design, manufacture management, and sale services of ICs. It has since its inception been accurately capturing industry trends and actively engaging itself in product line transformation based on the philosophy of innovation, quality, and service, thereby successfully becoming an IC design house with display and image processing technologies as the axis. Its product range encompasses LCD driver and controller ICs, video display, commercial and IM products. In order to increase technological advantages and competitiveness, it has recently extended its field of expertise to encompass the digital video and digitized image sectors and is gradually shifting towards single chip solutions of high added value.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.
ChipMOS ( www.chipmos.com.tw ) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
Contact:
In Taiwan R.O.C.
Dr. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com.tw
In the U.S.
David Pasquale
The Ruth Group
Tel: +1-646-536-7006
Email: dpasquale@theruthgroup.com