Toshiba Corp. has taken full ownership of a semiconductor joint venture in Wuxi, China, as it moves to build-up its semiconductor manufacturing operations in the country.
The Tokyo company paid an undisclosed sum to Huajin Electronics Group Corp. for the 5 per cent stake in Wuxi Huazhi Semiconductor Co. Ltd. that it did not already own, it said Monday. The joint venture was established in 1994 and Toshiba originally held a 60 per cent stake of the company but had purchased part of its partner’s stake previously to Monday’s announcement.
The company, which currently produces bipolar and CMOS (Complementary Metal Oxide Semiconductor) chips for televisions and audio applications, will be renamed Toshiba Semiconductor (Wuxi) Co. Ltd. and Toshiba will increase capitalization to CDN$22.9 million, it said in a statement. Production will also be shifted to a new industrial park in Wuxi, which is on China’s southeast coast, as part of a two-year,