by Jenniffer B. Austria
Cirtek Holdings Philippines Corp. said Monday unit Cirtek Electronics Corp. will expand production capacity in the first quarter to boost revenues.
CHPC said in a disclosure to the stock exchange it would increase production of two major semiconductor customers to raise the group’s total output by 20 percent.
It said the first capacity expansion was for a new product called Quad Flat No Leads Package, which is widely used for high-volume products like smart phones, PC and laptops, wireless communication and consumer electronics. These devices are seen as major factors that will boost the global semiconductor industry growth for 2021.
The second major capacity expansion involves a global semiconductor company based in California which focuses on gallium nitride high-power transistors and modules for high-voltage power conversion applications.
The product is for intelligent power modules that will increase efficiency and reliability in energy power system, electric chargers for electric vehicles, power adapters and inverters.
CHPC said unit Cirtek Advanced Technology and Solutions Inc. would also roll out its 5G chipset for mass production. CATSI, in the middle of 2020, finalized a multi-million project with a Texas-based company for the manufacture of signal processing units and indoor radio frequency units that will be part of the system infrastructure to be used for communication services for public safety, government, utilities and industrial customers.
The solution will allow for the transport of mission critical voice, data and video reliably, efficiently and securely.
It also finalized contract manufacturing services with a New York-based company to mass produce radio frequency power modules for high-speed data transmission for aerospace applications.
“The company is fortunate to be in an industry that is about to experience a revolutionary boom, and we are very excited to take part in creating and shaping a new world as we emerge where technology and communications will be a main driving force as evidenced by this pandemic,” Cirtek vice president Jorge Aguilar said.
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Published by Malaya
Cirtek Holdings Philippines Corp. said it has successfully raised P1.37 billion in funding through a stock rights offer (SRO) where existing shareholders subscribed to 249.44 million shares at P5.50 per share.
The SRO entitled a shareholder to buy one share from the pool of shares made available for every 1.68 Cirtek shares it owns. The company also included in the share sale one detachable warrant for each shares bought, which its holder can use to buy additional Cirtek shares at a price of P5.50, starting on the 12th month after the stock rights offer and until the 36th m...Read more