Infineon completes sale of manufacturing sites in Cavite, Philippines and Cheonan, South Korea to ASE

Munich and Taipei – 1 August 2024 – Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) has completed the sale of its 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.

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.

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

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