MagnaChip and INELTEK GmbH Sign European Distribution Agreement
SEOUL, South Korea and HEIDENHEIM, Germany, Dec. 12, 2012 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that it has entered into a sales distribution agreement with INELTEK GmbH, a Germany-based distributor of advanced semiconductor products and services in Europe.
INELTEK, a leading European distributor, offers an extensive range of semiconductor products with a tradition of exceptional technical support and engineering services. INELTEK’s wide distribution network includes sales and support offices in eight countries as well as individualized on-site customer assistance. Under the terms of the agreement, INELTEK will distribute MagnaChip’s power semiconductor products throughout Europe providing MagnaChip with access to new high growth markets and customers.
“This relationship is an excellent opportunity for both companies to increase their market share of semiconductor products in Europe and to gain access to new markets. Furthermore, we are able to provide additional products in the category of analog and mixed-signal semiconductors to our blue chip customer base,” said Bernhard Sonnentag, INELTEK`s Managing Director
“We are very pleased to add INELTEK GmbH to our distribution network in Europe,” said Brent Rowe, MagnaChip’s Executive Vice President of worldwide sales. “INELTEK’s extensive customer network and application expertise is very complementary to MagnaChip’s growing portfolio of power semiconductor solutions.”
About INELTEK GmbH
Since INELTEK`s formation in 1987, the company has grown rapidly and continues to expand as a specialized distributor of electronic components. INELTEK commenced operations in Germany and has expanded across Europe and USA. Through these offices, INELTEK offers a highly competent level of technical support to their customers. The warehouse and logistics are centralized in Germany where INELTEK can supply prompt delivery along with such services as Kanban, consignment warehousing and just in time (JIT) deliveries. For more information, please visit www.ineltek.com.
About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.
MagnaChip Contacts: In the United States: In Korea: Robert Pursel Chankeum Park Director of Investor Relations Senior Manager, Public Relations Tel. +1-408-625-1262 Tel. +82-2-6903-3195 email@example.com firstname.lastname@example.org INELTEK Contact: Bastian Strassburg Marketing Manager Tel.: +49-7321-9385-0 email@example.com
SOURCE MagnaChip Semiconductor Corporation