Stats chief financial officer, Tan Lay Koon, told The Business Times that the buy was "not a defensive measure", and that loss-making Stats was open to more acquisitions. "There's never really a good time," he said of the company's move to buy while other firms are scaling back. "You make an acquisition when a suitable and a good opportunity arises," he explained, adding that after a careful search, "Winstek came closest to our desired candidate".
Short Take: ST Assembly completes Winstek buy
By Staff, Singapore.CNET.com, CNET.com
Thursday, August 23, 2001 11:47 AM
Thursday, August 23, 2001 11:47 AM
SINGAPORE--ST Assembly Test Services (Stats) completed its takeover of Taiwan microchip tester Winstek Semiconductor Corp on Tuesday. The US$28 million deal gives Stats 51 percent of Winstek, and its first manufacturing facilities outside the island. The buy gives Stats, which aims to become one of Taiwan's leading chip-testers, a 5 to 8 percent increase in chip-testing capacity.
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