NXP Semiconductors N.V. has established Singapore as its Global Headquarters for Standard Products and for Operations, the electronics company recently announced.
The company has also anointed Singapore as its ASEAN Headquarters for Sales & Marketing.
NXP said it will increase its investments by S$20 million in R&D on top of the S$40 million spent over the last five years, and make a S$125 million capex investment over the coming years to upgrade the manufacturing capabilities for new technologies developed at Systems on Silicon Manufacturing Company Pte. Ltd. (SSMC).
SSMC is a Joint Venture between NXP and Taiwan Semiconductor Manufacturing Company Ltd (TSMC).
"Our customers are our first priority, and with a majority based in Asia, this move will facilitate closer collaboration with them and help us to better understand their challenges and priorities" said Rick Clemmer, President and CEO of NXP Semiconductors. "From an innovation point of view, Asia is currently experiencing unprecedented growth in the design and manufacturing of semiconductor solutions, and with key business unit headquarters in Singapore, we have the ability to develop new relationships with technology partners that can benefit NXP on a global level."
NXP's Singapore based corporate R&D lab, which opened in May 2012, will also be expanding to retain a headcount of up to 80, the company said in a statement. This is NXP's second corporate R&D lab with the first being located in the Netherlands.
"We are pleased that NXP is growing its presence here," said Leo Yip, Chairman of the Singapore Economic Development Board (EDB). "The upgrading of SSMC not only enhances NXP's global competitiveness but also strengthens Singapore's semiconductor manufacturing ecosystem, supporting the continued growth of the industry here."
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