16 Apr '12, 6am
SAS vows to turn Covalent profitable
SAS vows to turn Covalent profitable Nuying Huang, Taipei; Jackie Chang, DIGITIMES [Monday 16 April 2012] Taiwan-based solar wafer maker Sino-American Silicon (SAS) recently announced the acquisition of Japan-based semiconductor firm Covalent. According to Doris Hsu, president of SAS, this acquisition will allow the group to provide a more complete solution to customers. SAS plans to turn Covalent's profits to positive in a short period of time. SAS acquired Covalent at NT$10.2 billion (US$346 million), a figure that is six times more than the acquisition of US-based Globitech by SAS in 2008. Hsu noted that a year after the acquisition, SAS was able to turn Globitech's profits to positive. Globitech's revenues in 2010 reached record highs. SAS indicated that Globitech revenues grew by 8% in 2011 and are expected to grow by 20% in 2012. SAS hopes to adopt the same strategy ...