View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 15, 1997updated 05 Sep 2016 12:08pm

THAILAND’S ALPHATEC LOOKS FOR FUNDING AFTER TI WITHDRAWAL

By CBR Staff Writer

Alphatec Electronics Plc the Bangkok silicon foundry operator is looking for some new funding partners now that Texas Instruments Inc has left it in the lurch. Dallas based Texas Instruments revealed last week that it’s pulling the plug on its multi- million dollar deal with Alphatec because the Thai company has failed to raise sufficient extra finance for its two new fabrication facilities. The deadline for raising the estimated $100m equity was May 2. Under the terms of the deal, Alphatec is now required to buy out Texas Instruments $20m stake in the two joint ventures which were to build a memory manufacturing plant and a chip assembly plant. Alphatec has blamed the difficult economic climate in Thailand which is manifesting itself as a severe lack of demand for technology stocks. The company has called for a more interventionist approach from the Thai government which it believes must step in to prevent a funding crisis, caused by Thailand’s economic slow down. But Thailand’s finance minister has hit back in comments to the Financial Times, They (Alphatec) have to blame someone if they cannot raise funds, but I would argue that it’s not a crisis. He implied that Alphatec alone was responsible for its troubles because it had created financial needs which were too big for Thailand’s markets. Despite the set back, Alphatec still intends to go ahead with the new fabrication facilities but where the external funding will come from is unclear.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU