NEWS
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New company ST-NXP Wireless prepares to enter global market
NXP, the independent semiconductor company founded by Philips, and
STMicroelectronics announced that their new joint venture name will be
ST-NXP Wireless. Created from the mobile and wireless businesses of
STMicroelectronics and NXP, which together generated $3 billion USD in
revenue in 2007, the new company will begin operations in a strong
position to meet customer needs in 2G, 2.5G, 3G, multimedia,
connectivity and all future wireless technologies. ST-NXP Wireless is
expected to enter the market in number three position once full closure
of the joint venture takes place, as scheduled, in the third quarter of
2008.
It was also announced today that the management team of ST-NXP Wireless will comprise experienced industry leaders from both parent companies. Alain Dutheil, presently chief operating officer (COO) of STMicroelectronics, has been assigned to lead ST-NXP Wireless as Chief Executive Officer (CEO) focusing exclusively on the new joint venture.
The Executive Committee of ST-NXP Wireless, led by Alain Dutheil, will include:
ST-NXP Wireless will be among the few companies with the scale to make the R&D investments necessary to deliver current and future wireless technologies. The joint-venture will combine key design, sales and marketing, and back-end manufacturing assets from both parent companies into a streamlined organisation that will rely on its parent companies and foundries for wafer fabrication services. ST-NXP Wireless will be headquartered in Switzerland. Aiming to close in Q3 2008, the deal is subject to regulatory approvals and labor council consultation.
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in such statements.
Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of our business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be” or “anticipates” or similar expressions or the negative thereof or other variations thereof, or by discussions of strategy, plans or intentions. Some of the risk factors we face are set forth and are discussed in more detail in “Item 3. Key Information – Risk Factors” included in our Annual Report on Form 20-F for the year ended December 31, 2007, as filed with the SEC on March 3, 2008. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed or expected. We do not intend, and do not assume any obligation, to update any information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.
It was also announced today that the management team of ST-NXP Wireless will comprise experienced industry leaders from both parent companies. Alain Dutheil, presently chief operating officer (COO) of STMicroelectronics, has been assigned to lead ST-NXP Wireless as Chief Executive Officer (CEO) focusing exclusively on the new joint venture.
The Executive Committee of ST-NXP Wireless, led by Alain Dutheil, will include:
- Abhijit Bhattacharya, currently financial controller, Multimarket Semiconductors Business Unit, NXP, who is nominated to take the position of Chief Financial Officer of the joint venture
- Tommi Uhari, current executive vice president and general manager of Mobile, Multimedia & Communications Group, STMicroelectronics
- Marc Cetto, current executive vice president and general manager of Mobile & Personal Business Unit, NXP.
ST-NXP Wireless will be among the few companies with the scale to make the R&D investments necessary to deliver current and future wireless technologies. The joint-venture will combine key design, sales and marketing, and back-end manufacturing assets from both parent companies into a streamlined organisation that will rely on its parent companies and foundries for wafer fabrication services. ST-NXP Wireless will be headquartered in Switzerland. Aiming to close in Q3 2008, the deal is subject to regulatory approvals and labor council consultation.
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in such statements.
Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of our business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be” or “anticipates” or similar expressions or the negative thereof or other variations thereof, or by discussions of strategy, plans or intentions. Some of the risk factors we face are set forth and are discussed in more detail in “Item 3. Key Information – Risk Factors” included in our Annual Report on Form 20-F for the year ended December 31, 2007, as filed with the SEC on March 3, 2008. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed or expected. We do not intend, and do not assume any obligation, to update any information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.
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