An Independent Journal Dedicated to the Advancement of Chip - Scale Electronics July - August 2000 Email the editor

Seoul - Young Poong Corp., a Korean multi-national firm with revenues approaching U.S. $2 billion a year, has acquired Signetics Korea Ltd., the country's oldest provider of IC assembly and test services.

Some of the proceeds of the sale will be used to add high-end capitol equipment at the assembler, according to Signetics. Terms of the sale were not disclosed, but Signetics said its new parent will immediately provide a large cash infusion for expansion.

U.S. Visibility

	The acquisition will compliment several of Young Poong's business lines, including those in electronics-such as PC boards. It will also provide Young Poong with major sales and marketing visibility in the U.S. and Europe, according to H.J. Chang, Young Poong chairman. Current Signetics management will remain in place, he added.
S.J. Yang

"The financially rock-solid Young Poong Corp. is the ideal owner for a company like Signetics, which is moving quickly to expand services to customers," said Signetics' president and CEO S.J. Yang. "We are currently working at or very near capacity on most assembly and test lines at both of our Korean facilities."

	Signetics Korea, Yang said, has been looking for a financially capable investor to expedite the company's expansion plans since last year. In 1999, Signetics posted revenues of about $260 million.
Wayne Moore

"Major Benefits"

Wayne Moore, president of Signetics High Technology, San Jose, the sales and support arm for North America, said, "This acquisition represents an exceptional boost for Signetics, and one that will provide major benefits to our customers, as well.

"Until a year ago, when we began to restructure our U.S. facilities and support, many of our customers perceived us as quality-conscious and reliable, but not necessarily at the forefront of technology. With the addition of our strategic engineering staff in the U.S. and Korea, customers are beginning to see us in a new light-a company vying for a major technology leadership position," Moore added.

Young Poong was established in 1949. It is headquartered in Seoul and has interests in communications, construction, heavy machinery, life insurance, mining, retail book sales and textiles. [signetics.com]