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- MPI said the acquisition will deepen collaboration with Infineon, its key customer, and expand its semiconductor assembly and testing capacity. Europe and Asia make up 80% of MPI’s sales.
KUALA LUMPUR (Sept 18): Malaysian Pacific Industries Bhd (KL:MPI) plans to acquire Infineon Technologies (Thailand) Ltd for US$77.95 million (RM327.56 million) to strengthen ties with its customer, Infineon Technologies AG.
The deal, announced in a Bursa Malaysia filing, involves MPI buying the back-end manufacturing site in Nonthaburi, Thailand, from Infineon’s units—Spansion LLC, Spansion Inc, and Cypress Semiconductor Corp.
MPI said the acquisition will deepen collaboration with Infineon, its key customer, and expand its semiconductor assembly and testing capacity. Europe and Asia make up 80% of MPI’s sales.
The purchase will be funded through internal funds and/or borrowings, to be decided later. Certain employees from the Thai unit will not be part of the deal.
The acquisition is subject to Bank Negara Malaysia's approval for US dollar payment of the purchase price and does not require the approval of the shareholders of MPI. Certain equipment and employees of Infineon Thailand must be transferred to the sellers before the acquisition can proceed.
MPI has until June 30, 2026 to complete the acquisition.
For the financial year ended June 30, 2025, MPI’s net profit dipped 6.45% to RM153.78 million due to the absence of a one-off reversal last year. Revenue rose slightly to RM2.13 billion.
The group had a net cash position as of June 30, with RM467.81 million in cash and RM104.03 million in borrowings.
MPI shares closed nearly flat at RM28.54 on Thursday, giving it a market value of RM5.69 billion. The stock is up 10.19% year to date.
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