CPE Tech to Form JV with Japan's Kanekita for Semiconductor Components Manufacturing; Shares Down 5%

MT Newswires Live11:52

CPE Technology (KLSE:CPETECH) has agreed to form a joint venture with Japan's Kanekita Co to manufacture semiconductor equipment components using passivation treatment technology, according to a Thursday filing to the Bursa Malaysia.

Under the terms of the agreement, CPE will own a 50.5% stake in the proposed joint venture, while 49.5% will be held by Kanekita. The JV combines the latter's proprietary technical expertise with CPE's established manufacturing footprint.

The JV Company is expected to be incorporated within 60 days from July 14, after which the installation and testing of the surface treatment production line are expected to be completed within 12 months. Thereafter, manufacturing activities and the sale of the materials and products are expected to begin in the third quarter of the financial year ending 2027.

CPE will initially invest around 2 million to 3 million Malaysian ringgit for the joint venture company's operational requirements, including site preparation and the establishment of the surface treatment production line.

CPE shares were down over 5% in Friday's trade.

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