Infineon acquires Korean manufacturing JV
Infineon Technologies has purchased all outstanding shares of LS Power Semitech Co., Ltd., a company established in 2009 as a joint-venture of Infineon and LS Industrial Systems in Korea.
The acquisition increases Infineon’s global footprint in the growing market segment of Intelligent Power Modules (IPM) which enable higher energy efficiency in consumer appliances such as refrigerators, freezers, washing machines, dryers, and air conditioners.
“Power electronics is a cornerstone of our commitment to address the global challenge of energy efficiency,” said Dr. Helmut Gassel, Division President Industrial Power Control. “Functional integration is one of the key trends in this industry – with our increased engagement in IPMs we will participate in a fast growing and highly attractive market. Companies we supply in these markets are positive about our strategic approach to move from product thinking towards system understanding.”
Growth in the IPM product segment is a result of the worldwide trend for greater energy efficiency in consumer appliances as well as light industrial drive applications.
Founded in 2009, LS Power Semitech is a Korea-based supplier of IPMs with Infineon originally holding a 46 percent share of the joint venture with LS Industrial Systems. Infineon previously increased its ownership to 66 percent in June 2014. The company has its headquarter and development activities based in Seoul and its manufacturing site located at Cheonan, Korea.