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On August 1, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) has completed the sale of its two backend manufacturing sites, one in Cavite, Philippines and one in Cheonan, South Korea, to two fully owned subsidiaries of ASE, a leading provider of independent semiconductor manufacturing services in assembly and test.

Infineon Technologies Power Semitech is a backend manufacturing site with around 300 employees. The fab’s location in Cheonan, South Korea is about 60 miles south of Seoul. On the other hand, Infineon Technologies Cavite is a backend manufacturing site with more than 900 employees. Its location is in one of the fastest-growing and most industrialized provinces in the Philippines.

ASE will assume operations with current employees, and further develop both sites to support multiple customers. As such, ASE and Infineon have also concluded long-term supply agreements under which Infineon will continue to receive previously established services as well as services for new products to support its customers and fulfill existing commitments.

In addition to this sale, Infineon has achieved a significant milestone by completing the construction of the world's largest 200mm Silicon Carbide (SiC) power fab in Kulim, Malaysia. 

Infineon plans to officially open the Kulim 3 fab module in August, with SiC production starting by the end of 2024. The fab is at the heart of a $100bn plan by the Malaysian government to boost chip production in the country. 

Impressively, Infineon managed to complete the entire construction process, from the start to the first tool moves in, in just 13 months. This rapid timeline highlights Infineon's efficiency and commitment to meeting the growing demand for SiC power devices.

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September).

Editor：Vicky

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