Jeff Immelt, Chairman of the Board and Chief Executive Officer of General Electric, presented a commemorative award to Wan Choong Hoe, Executive Vice President and Chief Operating Officer, of STATS ChipPAC Ltd at the Tower Club in Singapore. The award was presented in celebration of the ten-year relationship between GE Capital Solutions, Global Electronics Services (GES) and STATS ChipPAC and the attainment of $ 320 million in cumulative leasing volume. STATS ChipPAC, a leading service provider of semiconductor packaging design, assembly, test and distribution solutions, has looked to GES for leasing and financing solutions on numerous occasions over their long-standing association.
“The length of our close relationship with STATS ChipPAC is a testament to the success of our Acquire, Use, Remarket model. GES actively manages every facet of STATS ChipPAC’s asset portfolio, beginning with customized leasing solutions in the Acquire phase, optimizing equipment utilization through tool swaps, lease extensions and asset relocations in the Use phase, and finally helping to dispose of idle equipment in the Remarket phase,” commented Melvin Low, Asia Managing Director for GES. “GES’ global footprint, particularly in Asia, also plays a critical role in our relationship and allows us to support STATS ChipPAC’s continued business expansion throughout this region.”
Almost half of the total lease volume of $320 million has been generated within the last three years, which is indicative of the increase in influence and importance of Asia in the semiconductor industry.
Tan Lay Koon, President and Chief Executive Officer of STATS ChipPAC, said, "GE has been a valued partner to us and has been able to support us with flexible products in all the countries where we operate. We look forward to GE’s continued support in the future as we invest to meet our customers' growing needs."
Click here for more information
