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Dr. Ulrich Schumacher opens Infineon's new Chinese headquarters in Shanghai's booming business district Pudong
September 17, 2003
SHANGHAI -- Dr. Ulrich Schumacher, CEO of the world's sixth largest semiconductor company, opened Infineon's (NYSE:IFX) (FWB:IFX) new Chinese headquarters in Shanghai. This move marked a further milestone in the expansion of Infineon's business operations in China. The Infineon China headquarters is situated in Shanghai's booming business district Pudong. It will house central administration, as well as a large software center. Today, the Infineon China headquarters has already more than 100 employees and it will become one of the biggest software centers of Infineon.
"We have set ourselves ambitious goals in China and are confident that we can achieve them," declared Dr. Schumacher, President and CEO of Infineon Technologies, at a press conference in the burgeoning Chinese metropolis. "In the next five years we aim to double our market share in China, from its current five percent to ten percent."
"Infineon Technologies China is organized as a holding company, which provides a high degree of flexibility for entering into new partnerships and joint ventures with other Chinese companies," explained Pow Tien Tee who has been appointed Managing Director of Infineon's Chinese subsidiary.
According to forecasts by the market research firm, iSuppli, the Chinese semiconductor market will triple in size over the next four years and be worth more than US $80 billion by 2007.
"It is extremely important for the success of Infineon to be involved in this fast-growing market," said Dr. Schumacher. "This will also help us to safeguard jobs in Germany and at our other locations."
Infineon Technologies AG
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