SINGAPORE -- 3/22/2011, UNITED STATES--(Marketwire - March 22, 2011) - STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP), a leading semiconductor test and advanced packaging service provider, today announced that it has received Analog Devices, Inc.'s "Supplier Excellence Award" for Contracted Production. This is the third consecutive year that STATS ChipPAC has received ADI's Supplier Excellence Award for providing full turnkey packaging and test services.
"ADI experienced strong demand in 2010, and through this upswing in business, it was a top priority for our company to remain a reliable supplier to our customers. We set high expectations for ADI and our suppliers to ensure that we delivered the right products to our customers quickly with the highest levels of quality, service, and support," said Liam C. McCaffrey, Director of Purchasing, Worldwide Manufacturing, and Chairman of Analog Devices' Purchasing Council. "STATS ChipPAC consistently delivered outstanding performance throughout the year and excelled in their responsiveness to our customer demand. We appreciate their commitment to ADI and commend them for a job well done."
"Receiving ADI's Supplier Excellence Award for three straight years is truly an honor and is recognition of our efforts to provide high quality products and services with a responsiveness that allows ADI to maintain its leading market position. We believe we have distinguished ourselves by our ability to support their business requirements with speed and flexibility in an ever changing market," said Hal Lasky, Executive Vice President and Chief Sales Officer, STATS ChipPAC. "We are proud of the long and successful relationship we have had with ADI and will continue to focus on providing them with an outstanding customer experience."
The ADI Supplier Awards are based on an exacting supplier program that measures a company's ability to meet strict standards for technology and market leadership, commitment to manufacturing speed and quality, and delivery of cost reduction initiatives. ADI recognizes those companies that meet the program's rigorous standards and differentiate their organizations by anticipating and accommodating market demand fluctuations and maintaining consistently short delivery times.
Forward-Looking Statements
Certain statements in this release 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 include, but are not limited to, general business and economic conditions and the state of the semiconductor industry; prevailing market conditions; demand for end-use applications products such as communications equipment, consumer and multi-applications and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; level of competition; our reliance on a small group of principal customers; our continued success in technological innovations; pricing pressures, including declines in average selling prices; intellectual property rights disputes and litigation; our ability to control operating expenses; our substantial level of indebtedness and access to credit markets; potential impairment charges; availability of financing; changes in our product mix; our capacity utilisation; delays in acquiring or installing new equipment; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; returns from research and development investments; changes in customer order patterns; shortages in supply of key components; customer credit risks; disruption of our operations; loss of key management or other personnel; defects or malfunctions in our testing equipment or packages; rescheduling or cancelling of customer orders; adverse tax and other financial consequences if the taxing authorities do not agree with our interpretation of the applicable tax laws; classification of our Company as a passive foreign investment company; our ability to develop and protect our intellectual property; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; majority ownership by Temasek Holdings (Private) Limited ("Temasek") that may result in conflicting interests with Temasek and our affiliates; unsuccessful acquisitions and investments in other companies and businesses; labour union problems in South Korea; uncertainties of conducting business in China and changes in laws, currency policy and political instability in other countries in Asia; natural calamities and disasters, including outbreaks of epidemics and communicable diseases; the continued trading and listing of our ordinary shares on the Singapore Exchange Securities Trading Limited ("SGX-ST"); and other risks described from time to time in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F dated 5 March 2010. You should not unduly rely on such statements. We do not intend, and do not assume any obligation, to update any forward-looking statements to reflect subsequent events or circumstances.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions in diverse end market applications including communications, digital consumer and computing. With global headquarters in Singapore, STATS ChipPAC has design, research and development, manufacturing or customer support offices in 10 different countries. STATS ChipPAC is listed on the SGX-ST. Further information is available at www.statschippac.com. Information contained in this website does not constitute a part of this release.
Contact Information:
Investor Relations Contact:
Tham Kah Locke
Vice President of Corporate Finance
Tel: (65) 6824 7788
Fax: (65) 6720 7826
email: