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Hynix raises US$300 million in IC packaging outsourcing deal
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Hynix Semiconductor is to establish a back-end IC packaging joint venture in China with Wuxi Industrial Development Group Company Ltd. Certain equipment currently owned by Hynix in both Korea and China will be purchased Wuxi Industrial Development Group, for approximately US$300 million.
The IC packaging JV will support production at Hynix-Numonyx Semiconductor facility in Wuxi. The new JV reduces the Korean based memory manufacturers back-end operations by 20%, resulting in Hynix now outsourcing 50% of back-end operations.