NAND flash device controller and module supplier Phison Electronics has announced its takeover of a real estate owned by LED chipmaker Tyntek in Hsinchu, northern Taiwan.
The acquisition, valued at about NT$607 million (US$21.8 million), is for the needs of its future expansion, Phison noted.
With land area of 15,457 square meters, the real estate consists of a building with total floor space of 7,009 square meters. Phison said that the building will be demolished to meet the company’s future operational requirements.
Phison has reported better-than-expected profits for the first quarter of 2021, and expressed previously optimistism about its operations in the second quarter. The company said it will continue optimizing its product mix for profitability.
Phison is committed to fulfilling customer orders on schedule and will be working with its upstream and downstream partners to tackle supply shortfalls, company chairman KS Pua was quoted as saying in previous reports. Phison held NT$14 billion worth of inventory as of end-April, compared with NT$13.1 billion a month earlier.