Cypress and JCET Complete Successful Transfer Of Packaging Assembly Lines from the Philippines to China

2012-03-31

SAN JOSE, Calif. and JIANGYIN CITY, China, March 27, 2012 – Cypress Semiconductor Corp. (Nasdaq: CY) and Jiangsu Changjiang Electronics Technology Co. (JCET) （SSE: 600584), the largest packaging service provider from China, today announced the successful transfer of seven back-end packaging assembly production lines from Cypress’s Philippines facility to JCET’s C3 factory in Jiangyin City, China. With the completion of this transfer and qualification by multiple automotive end customers, JCET becomes a major packaging supplier to Cypress able to provide full production support to Cypress on products previously manufactured internally in the Philippines.

"This is a new chapter for JCET in collaboration with world-class semiconductor customers, and the importance far exceeds the business benefits," said Bill Li, Corporate VP, GM of Laminate Packaging Sector at JCET. "It has been a very pleasant and exciting experience working with Cypress during the transfer. We are fully committed to supporting Cypress in its packaging strategy and needs. We look forward to more and closer collaborations between the two companies."

Shahin Sharifzadeh, Executive Vice President, WW Wafer Fabs and Technology and President, China Operations of Cypress, said, "The transfer of our conventional package assembly line to JCET is a critical part of our manufacturing strategy. The successful completion of the transfer and qualification by our automotive customers are great achievements for both companies. We are very happy with the results so far and look forward to future collaboration.”

About Cypress
Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® programmable system-on-chip families and derivatives such as PowerPSoC® solutions for high-voltage and LED lighting applications, CapSense® touch sensing and TrueTouch™ solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the Nasdaq Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

About JCET
JCET (Jiangsu Changjiang Electronics Technology Co., Ltd.) is the largest Chinese packaging subcon, providing full turkey packaging assembly and test services with one of the broadest package portfolios in BGA, flipchip, wafer-level, leadframe IC and discrete packages. Conveniently located in Jiangyin City, 160km northwest of Shanghai within the Silicon Delta of China, JCET services both international and domestic customers with competitive quality, delivery, cost and engineering support in packaging assembly and test. As the host of the National Key Engineering Lab for High-Density Packaging and chairing company for the National Packaging Industry Technology Innovation Strategic Alliance, JCET has been investing heavily in packaging technology development and innovation. It owns worldwide IP in copper pillar bumping and has been recently ramping up production of the latest Molded Interconnect System (MIS) technology. JCET is listed on Shanghai Stock Exchange under the stock ticker of 600584. Please visit www.cj-elec.com for more information..