Services, a Contract Electronics Service Provider, Incorporates in
City, California, April 17, 1998 — In a move to create a truly
international electronics manufacturing service company, GEM Services
management today announced the incorporation of GEM Services, Inc., a
Cayman Islands holding company. GEM Services USA, Inc., headquartered
in Redwood, City, California, is a wholly owned subsidiary of GEM
GEM Services is initially focusing on conventional
semiconductor turnkey packaging, providing high-quality, low-cost
semiconductor assembly and test services through partnerships in
Taiwan. The Company plans to rapidly expand its services through
internal growth, partnerships, strategic alliances, joint ventures, and
According to Dataquest and Frost &
Sullivan, the semiconductor contract assembly and test market is
projected to grow at 20% CAGR from $6 billion in 1997 to $12.5 billion
in 2001. Based on the semiconductor manufacturers’ trend toward
out-sourcing backend manufacturing and GEM’s market knowledge,
operations expertise, and relationships within the semiconductor
industry, Company executives believe GEM Services will greatly exceed
the projected CAGR over the next five years.
The management team at GEM Services has a proven
track record in the semiconductor industry. President and CEO Richard
J. Kulle (a veteran of General Electric, Siliconix, and Temic
Semiconductors’ Discrete Components Division of Daimler-Benz) led the
turnaround of Siliconix, Inc. from Chapter 11 insolvency in 1990 to
profitability within two years. Kulle has vast experience in
international semiconductor operations, having set up fabrication,
assembly, and test facilities in Asia, North America, and Europe.
GEM Services, Inc. is a privately held company with headquarters in
Redwood City, California.
GEM Services, Inc. is a privately held company
incorporated in the Cayman Islands with three wholly-owned
subsidiaries: GEM Services USA in North America, GEM Electronics, Inc.
in Taiwan, and GEM Services Hong Kong, Ltd., which owns the subsidiary,
GEM Electronics Shanghai Co., Ltd.