Infineon sells manufacturing sites in Cavite, Philippines and Cheonan, South Korea to ASE, strengthening the strategic partnership of the two companies

Munich and Taipei – 22 February, 2024 – Infineon Technologies AG and ASE Technology Holding Co., Ltd. today announced that definitive agreements were signed under which Infineon will sell two backend manufacturing sites, one in Cavite, Philippines and one in Cheonan, South Korea, to two fully owned subsidiaries of ASE, a leading provider of independent semiconductor manufacturing services in assembly and test. The plants currently run under the entity names Infineon Technologies Manufacturing Ltd. – Philippine Branch (Cavite) and Infineon Technologies Power Semitech Co., Ltd. (Cheonan) and will be acquired by ASE Inc. and ASE Korea Inc. respectively. Post the transaction, ASE will assume operations with current employees, and further develop both sites to support multiple customers. As such, ASE and Infineon have also concluded long-term supply agreements under which Infineon will continue to receive previously established services as well as services for new products to support its customers and fulfill existing commitments.