3 Billion Yen to Create New Wafer Testing Company
Fountain Valley, CA, July 28, 2005 - Kingston Technology Japan, LLC, an affiliated company of Kingston Technology Company, Inc., the world's largest independent manufacturer of memory products, today announced that it has entered into an agreement with Advantest® Corporation, Powertech® Technology Inc. and Elpida® Memory Inc., in which Kingston® will invest 3 billion Japanese Yen (approximately US$26.7 million*) in a new joint-venture company, representing a 26.8% equity ownership.
The new company, Tera Probe Inc. ("Tera Probe"), will serve as the world's largest wafer testing service company. Tera Probe will provide wafer testing services to Elpida, as well as to other semiconductor companies located in Japan. Expected to begin operation in October 2005, Tera Probe will be based in Japan and have approximately 300 employees.
"Our investment in Tera Probe demonstrates Kingston's ongoing commitment to work with DRAM technology leaders such as Elpida," said David Sun, co-founder and COO of Kingston. "Elpida wafer technology, Advantest test equipment and Powertech assembly and testing services support Kingston's strong memory product offering--further enabling our capability to provide a continuous supply of products to all our global customers," added Sun.
Kingston Technology Japan, LLC
Kingston Technology Japan, LLC ("KT Japan") is a California limited liability company recently established for the purpose of managing its investment in the new joint venture company, Tera Probe. KT Japan is an affiliated company of Kingston Technology Company, Inc. in that they share the same ultimate ownership.
About Kingston Technology Company, Inc.
Founded in 1987, Kingston Technology Company, Inc. is the world's largest independent manufacturer of memory and digital media products. The Kingston affiliated companies operate manufacturing facilities in Malaysia, Taiwan, China and Fountain Valley, Calif. Kingston's back-end processing facility supports memory test and logistics. Kingston supports all memory processing functions from receipt of wafer to completed module. Kingston serves a network of distributors, OEMs, and retail customers in more than 3,000 locations worldwide. For more information on Kingston, call (800) 337-8410, or go to kingston.com.