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Taiwan's chip firm Powertech won't face a brain drain

Taiwan's chip firm Powertech won't face a brain drain

Taipei, Oct. 30 (CNA) An alliance between Taiwan's Powertech Technology Inc. (??, PTI) and China's Tsinghua Unigroup (??) will not cause a brain drain to the Taiwanese company due to Taiwan's strict rules, said PTI's chairman Tsai Du-kung (???) on Friday. Tsai made the remarks after the company announced earlier in the day that it will sell a 25 percent stake to the state-backed Chinese firm, if the deal is approved by Powertech shareholders and Taiwan's relevant regulatory authorities. As the world's biggest outsourced semiconductor assembly and testing service provider, PTI has faced challenges in expanding its global market share, but the alliance with Tsinghua Unigroup can help the Taiwanese company reach its goal, said Tsai. He also added that the Beijing-based company has promised to comply with Taiwan's regulations and that its investment will help it beef up its capacity of advanced assembly and testing services in Taiwan and develop its advanced process for production, as well as recruit talent. Powertech's main operations are in Taiwan and it employs more than 11,000 people on the island, which is around 90 percent of the company's total staffing. (By Chung Jun-fung and Lee Mei-yu)


Updated : 2021-09-27 02:11 GMT+08:00