Infineon strengthens partnership with automotive supplier DENSO

2018-11-27 11:08

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Infineon Technologies AG (Infineon) is strengthening its existing long-term cooperation with Japanese DENSO Corporation, the German semiconductor producer announced on Monday.

As part of the intensified collaboration, DENSO has already bought an equity stake in Infineon in the range of a "mid-double-digit million euro" amount. Infineon explained that the aim of the joint venture was to enhance system knowledge in established and new technologies such as automated driving and electric mobility.

"Our collaboration with Japan's largest and world-leading automotive system supplier is strengthening our links with the Japanese industry as well as our position in the Japanese and global semiconductor market. We welcome DENSO becoming a shareholder," read a statement by Reinhard Ploss, chief executive officer (CEO) of Infineon.

The move to partner with DENSO in the production of parts for automated and electric mobility comes shortly after Infineon unveiled plans to open a brand-new facility to manufacture energy-efficient chips used to control current flows in electric-powered devices at one of its plants in Villach, Austria. The company said earlier that it would invest 1.9 billion euros (2.16 billion U.S. dollars) in the project to develop the next generation of semiconductor technology.

Infineon described DENSO as a global supplier of advanced automotive technology, systems and components which could help bolster its own activities as a leading manufacturer of semiconductors for international carmakers. Based in Kariya, Japan, DENSO has approximately 220 subsidiaries in 35 countries and employs around 170,000 people across the world. The publicly-listed company recorded total sales of 48.1 billion dollars in the 2017/18 fiscal year.

Infineon recently published strong earnings figures for the final quarter (Q4) of its 2017/18 fiscal year which underscored high global demand for its semiconductor solutions. Gross revenue exceeded its own annual target at 7.6 billion euros (plus eight percent) in 2017/2018. The DAX-listed company employs around 36,000 staff in total.
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