TAIPEI, TAIWAN: The board of directors at Rexchip Electronics, a joint venture between DRAM makers Elpida Memory and Powerchip Technology, was reelected at yesterday's shareholders meeting. Elpida and Powerchip gained four and three seats respectively on Rexchip's board of directors.
Frank Huang, Powerchip chairman who had earlier resigned from the post of Rexchip chairman, has stepped down from the board of this joint venture company.
Meanwhile, Rexchip elected Mike Chen, VP of Operations for Kingston Technology, as an independent member of the board. Elpida holds 64 per cent stake in the JV, and Kingston is a partner of Elpida.
According to sources at the company, Rexchip, which currently trades on Taiwan's Emerging Stock Board (ESB), has plans to apply for listing on the main board of the Taiwan Stock Exchange (TSE) by the end of 2010.
In addition, Rexchip revealed its transition to 45nm is expected to be done by the end of this year. The company was quoted in previous reports saying it would transfer all of its 12-inch capacity (80,000 wafer starts a month) to Elpida's 63nm process in July.
Revenues generated by Rexchip reached NT$21.37 billion in the first five months of 2010 - a significant growth compared to the NT$8.09 billion posted a year ago.