SOURCE: STATS ChipPAC

STATS ChipPAC

November 28, 2011 14:00 ET

STATS ChipPAC Receives Supplier of the Year Award From Cirrus Logic

SINGAPORE--11/29/2011, UNITED STATES--(Marketwire - Nov 28, 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 was recently named "Supplier of the Year" by Cirrus Logic, Inc. (NASDAQ: CRUS), a leader in high-precision, analog and mixed-signal processing components.

Cirrus Logic's innovative mixed-signal audio products can be found in a wide range of consumer applications, such as portable media players, smartphones, tablets and home audio systems. STATS ChipPAC provides full turnkey assembly and test services for Cirrus Logic's portable audio solutions. STATS ChipPAC was selected from among all of Cirrus Logic's back-end service providers.

"Cirrus Logic strives to provide our customers with best-in-class audio performance in a solution that is very small and very economical," said Randy Carlson, Vice President of Supply Chain Management, Cirrus Logic. "Our strong supply chain and manufacturing partners are important reasons why Cirrus Logic is able to provide better audio solutions that enable our customers to differentiate their products, and STATS ChipPAC's responsiveness and exceptional performance during this past year has been a key contributor to our success."

"We appreciate the long, successful relationship we have had with Cirrus Logic and we are honoured to be recognised as Supplier of the Year. We are excited to be working with Cirrus Logic on their audio products which are rapidly evolving and becoming an important feature in today's smartphones and other portable applications," said Hal Lasky, Executive Vice President and Chief Sales Officer, STATS ChipPAC. "Our proven experience in high performance wafer level packaging solutions has been instrumental in meeting their business requirements, and we look forward to supporting their future success."

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, uncertainty surrounding the ongoing impact of the flood in Thailand and its impact to our Thailand facility, shortages in supply of key components and disruption in supply chain; 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; 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"). 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
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