Message #19 From:
Stock News Bot Date: December 18, 2006 06:00:00 AM
CNCN News CinTel's Subsidiary PSTS Transfers Fairchild Korea Semiconductor Co., Ltd's Production Line from STS Telecommunications in Korea
LOUISVILLE, Ky.--(BUSINESS WIRE)--CinTel Corp. (CinTel) (OTCBB:CNCN), Korea’s
top internet traffic management (ITM) solution provider and
semiconductor-business partner, is pleased to announce that its
subsidiary in China, Phoenix Semiconductor and Telecommunication Suzhou
(PSTS), has completed transfer of the Fairchild Korea Semiconductor Co.,
Ltd’s package assembly and test line for
their 8SOP HVIC product line from STS Semiconductor and
Telecommunication in Korea and has started mass production as of
November 2006. PSTS expects to produce more than 12,000,000 units per
year with this contract.
It also plans to transfer additional assembly and test lines for 8MOS,
TO-22OF/P products for Fairchild Korea Semiconductor Co., Ltd from STS
Semiconductor and Telecommunications in Korea in December 2006 and will
start mass production, after quality assurance measures are reviewed, in
January 2007. PSTS expects to produce more than 42,000,000 of these
units per year.
Specialized products of Fairchild Korea Semiconductor provided under
these transfers are Power IC and Switching IC units, which regulate and
distribute high voltage and high electric current for home appliances
such as TV, DVD Player, Washing Machine and Audio.
After PSTS qualified as an assembly and test site for Fairchild’s
devices, such as 8SOP, 10SOP, 14SOP, 8DIP, 14DIP and others, in 2005 and
2006, PSTS has transferred assembly and test lines already from STS
Semiconductor and Telecommunication in Korea for Fairchild in 2005 and
anticipates the subsequent transfer of additional lines for Fairchild
Korea and other customers, like Samsung Electronics Corp., in the coming
years.
We expect these two additional lines that are coming online in the final
months of 2006 to result in at least an additional $5,000,000 in annual
sales in 2007, which is in addition to the $8,000,000 in annual sales
resulting from contracts with Samsung Electronics LCD (Suzhou).
Additional subsequent transfers of assembly and test lines and new
contracts with additional customers will result in significantly
increased sales in the coming year.
Joo Ho Choi, the manager of PSTS, said, “We
are pleased to add these high tech product lines through this contract.
We are now securing production capacity for various products and expect
additional sales to new customers with high voltage product lines in the
near future.”
Sang-Don Kim, the CEO and President of CinTel Corp., said, “PSTS
is now diversifying its customer base with other world class customers,
such as Fairchild Semiconductor, while maintaining strong relationships
with current major customers like Samsung Electronics. This will secure
the stable and rapid growth of production at PSTS. CinTel is committed
to managing our business to deliver more consistent and sustainable
improvements in sales and earnings.”
Fairchild Semiconductor (NYSE:FCS) is the leading global supplier of
high-performance power products critical to today's leading electronic
applications in the computing, communications, consumer, industrial and
automotive segments. As The Power Franchise(R), Fairchild offers the
industry's broadest portfolio of components that optimize system power.
Fairchild's 9,000 employees design, manufacture and market power, analog
& mixed signal, interface, logic, and optoelectronics products.
STS Semiconductor and Telecommunication is a subsidiary of BoKwang Group
and the biggest semiconductor company in BoKwang's network. It began as
a semiconductor packaging and testing specialty company after spinning
off from Samsung Electronics in 1998 and is now becoming a leading
semiconductor packaging company as well as a total solution provider for
memory applications for home appliances, semiconductor, and TFT-LCD
application products. STS was listed on KOSDAQ in 2001 and is publicly
traded.
About Phoenix Semiconductor and Telecommunication Suzhou (PSTS): (www.psts.com.cn)
Phoenix Semiconductor and Telecommunication became a subsidiary of
CinTel Corp in October 2006. It was founded by STS Semiconductor and
Telecommunication in China in 2004 by acquiring certain parts of the
packaging production lines from Samsung Electronics Corporation's China
plant (SESS). It began mass production in 2005 and its main customer is
Samsung Electronics Corporation, the largest semiconductor manufacturer
in the world. PSTS's main products are semiconductor packaging, NAND
flash memory and LCD assembly.
While CinTel maintains its position as a leader in Internet Traffic
Management (ITM) systems, it has also begun expansion into creative new
markets and worldwide distribution of Korean- and Chinese-based
technologies. With its main headquarters in North America and operations
worldwide, CinTel Corp. provides a range of enterprise technology
solutions. Founded in 1997, CinTel introduced Korea's first dynamic
server load balancer, which has now evolved into a world-class product
line. With its ever expanding solutions with key partners and internal
development, CinTel has created a conglomerate of technology products to
include NAND flash memory packaging, LCD assembly, semiconductor
packaging and testing specialists, as well as a total solution provider
for memory applications for home appliances, semiconductor and TFT-LCD
application products. CinTel's award-winning ITM solutions are marketed
to customers worldwide, enabling customers to improve Internet and
network traffic management, service levels, secure content, user
experience, and reduce server loads and bandwidth demands.
Safe-Harbor Statement
This press release may contain statements (such as projections regarding
future performance) that are forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995. Actual results may
differ materially from those projected as a result of certain risks and
uncertainties, including but not limited to those detailed from time to
time in the Company's filings with the Securities and Exchange
Commission.
