GMI Technology and Willas-Array Electronics Partner to Expand Semiconductor Business in Greater China
November 19, 2012 – GMI Technology Inc. (“GMI”), a premier Greater China electronics distributor listed on the Taiwan Stock Exchange, and Willas-Array Electronics (Holdings) Limited (“Willas-Array”), one of the largest Hong Kong based distributors of electronics components and listed on the Singapore Exchange, announced today that they have entered into a joint venture agreement.
Under the agreement, a joint venture company by the name of GW Electronics Company Limited has been formed, and the company will be an authorized distributor of Toshiba Semiconductor. The major focus of this new company will be to distribute Toshiba semiconductor products in mainland China and Hong Kong. The operation of the JV is expected to start from early next year.
Commenting on this announcement, Willas-Array Chairman, Mr. Lawrence Leung said, “We are delighted to be expanding our distribution business through this valued partnership with GMI Technology This will aid our company’s further expansion into our main target markets of mainland China and Hong Kong.”
Mr. Lewis Lo, GMI Technology President, added, “We are very excited to align with Willas-Array in this venture. In addition to the benefits to our two companies, more importantly this will enable Toshiba to continue their semiconductor business expansion in the very strategic mainland China market. We expect the joint venture to enable all three parties to achieve their aggressive business targets in the years ahead.”