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STATS ChipPAC Announces Resignation of Executive Vice President and Chief Strategy Officer
| Source: STATS ChipPAC
UNITED STATES--(Marketwire - September 14, 2007) - SINGAPORE -- 9/14/2007 - STATS ChipPAC Ltd.
("STATS ChipPAC" or the "Company") (NASDAQ : STTS ) (SGX-ST: STATSChP), a
leading independent semiconductor test and advanced packaging service
provider, today announced that Scott Jewler, Executive Vice President and
Chief Strategy Officer, has decided to leave the Company to pursue other
interests. Mr. Jewler, who has been with STATS ChipPAC since 2004, will
resign his position effective September 30, 2007.
"Scott joined STATS ChipPAC at a very crucial time for our company. We had
just completed our merger and were working to build a strong foundation for
our new company. His insight and leadership have been invaluable as we have
worked to significantly expand our geographic footprint, broaden our
portfolio of integrated backend solutions, and engage new customers in
Japan, Europe and the United States. It has truly been a pleasure to work
with Scott and we appreciate the important contributions he has made to our
company," said Tan Lay Koon, President and Chief Executive Officer, STATS
ChipPAC.
"STATS ChipPAC has gone through a substantial transformation over the last
three years and I am very proud of all the milestones we have achieved.
After 20 years in semiconductor assembly and test, I have decided to take
the opportunity to explore some other career opportunities. We have strong
leaders in place throughout our organization and I am confident they will
continue to lead STATS ChipPAC to achieve even greater levels of success,"
said Scott Jewler.
"I would like to personally thank Scott for his dedication and wish him
success in his future endeavors," said Tan Lay Koon.
STATS ChipPAC's global sales, product line management and business
management organizations will report to Tan Lay Koon until a replacement is
appointed.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (NASDAQ : STTS )
(SGX-ST: STATSChP) is a leading service provider of semiconductor packaging
design, assembly, test and distribution solutions. A trusted partner and
supplier to leading semiconductor companies worldwide, STATS ChipPAC
provides fully integrated, multi-site, end-to-end packaging and testing
solutions that bring products to the market faster. Our customers are some
of the largest wafer foundries, integrated device manufacturers (IDMs) and
fabless companies in the United States, Europe and Asia. STATS ChipPAC is a
leader in mixed signal testing and advanced packaging technology for
semiconductors used in diverse end market applications including
communications, power, digital consumer and computing. With advanced
process technology capabilities and a global manufacturing presence
spanning Singapore, South Korea, China, Malaysia and Taiwan, STATS ChipPAC
has a reputation for providing dependable, high quality test and packaging
solutions. The Company's customer support offices are centered in the
United States (California's Silicon Valley, Arizona, Texas, Massachusetts,
Colorado and North Carolina). Our offices outside the United States are
located in South Korea, Singapore, China, Malaysia, Taiwan, Japan, the
Netherlands and United Kingdom. STATS ChipPAC's facilities include those
of its subsidiary, Winstek Semiconductor Corporation, in Hsinchu District,
Taiwan. These facilities offer new product introduction support,
pre-production wafer sort, final test, packaging and other high volume
preparatory services. Together with our research and development centers in
South Korea, Singapore, Malaysia, China, Taiwan and the United States as
well as test facilities in the United States, this forms a global network
providing dedicated test engineering development and product engineering
support for customers from design to volume production. STATS ChipPAC is
listed on both the Nasdaq Stock Market (NASDAQ) and the Singapore Exchange
Securities Trading Limited (SGX-ST). In addition, STATS ChipPAC is also
included in the Morgan Stanley Capital International (MSCI) Index. Further
information is available at www.statschippac.com. Information contained in
this website does not constitute a part of this release.
Certain statements in this release, including statements regarding expected
future financial results and industry growth, are forward-looking
statements that involve a number of risks and uncertainties that could
cause actual events or results to differ materially from those described in
this release. Factors that could cause actual results to differ from our
expectations include, but are not limited to, general business and economic
conditions and the state of the semiconductor industry; level of
competition; demand for end-use applications products such as
communications equipment and personal computers; decisions by customers to
discontinue outsourcing of test and packaging services; reliance on a small
group of principal customers; continued success in technological
innovations; availability of financing; pricing pressures including
declines in average selling prices; ability to meet specific conditions
imposed for the continued trading or listing of the Company's securities on
the SGX-ST and the NASDAQ; our substantial level of indebtedness; potential
impairment charges; adverse tax and other financial consequences if the
South Korean taxing authorities do not agree with our interpretation of the
applicable tax laws; ability to develop and protect our intellectual
property; rescheduling or canceling of customer orders; changes in products
mix; intellectual property rights disputes and litigation; capacity
utilization; delays in acquiring or installing new equipment; limitations
imposed by our financing arrangements which may limit our ability to
maintain and grow our business; changes in customer order patterns;
shortages in supply of key components; disruption of our operations; loss
of key management or other personnel; defects or malfunctions in our
testing equipment or packages; changes in environmental laws and
regulations; exchange rate fluctuations; regulatory approvals for further
investments in our subsidiaries; significant ownership by Temasek Holdings
that may result in conflicting interests with Temasek Holdings and our
affiliates; unsuccessful acquisitions and investments in other companies
and businesses; our ability to continue to successfully integrate the
operations of the former separate STATS and ChipPAC companies and their
employees; labor union problems in South Korea; uncertainties of conducting
business in China; natural calamities and disasters, including outbreaks of
epidemics and communicable diseases; and other risks described from time to
time in the Company's SEC filings, including its annual report on Form 20-F
dated March 12, 2007. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.