Foxsemi­con’s marvelous re­cov­ery: back from the brink and go­ing public

Af­ter Terry Gou al­most gave up on it, Foxsemi­con is go­ing public. How did this peren­nial money loser turn into a semi­con­duc­tor in­dus­try stal­wart?

The China Post - - BUSINESS -

By Elaine Huang

A typhoon was poised to slam into Tai­wan, but that did not de­ter the more than 100 peo­ple who packed into a con­fer­ence room at Shangri-La’s Far Eastern Plaza Ho­tel in Taipei on July 8. They were there for a Foxsemi­con In­te­grated Tech­nol­ogy brief­ing on its re­sults just weeks be­fore it was set to go public on Tai­wan’s stock ex­change on July 28.

The con­fer­ence was highly an­tic­i­pated be­cause Foxsemi­con, a sub­sidiary of Hon Hai Pre­ci­sion In­dus­try, the world’s largest elec­tron­ics man­u­fac­tur­ing con­trac­tor, is a big money maker, some­thing that was un­think­able not long ago.

Erix

Yu,

the

pres­i­dent

of the Tai­wan of­fice of one of the world’s lead­ing semi­con­duc­tor equip­ment mak­ers, Ap­plied Ma­te­ri­als, rushed to the con­fer­ence to show his sup­port for the com­pany af­ter re­turn­ing from an over­seas trip that morn­ing.

Yu’s pres­ence demon­strated that be­yond hav­ing a wealthy bene­fac­tor in Hon Hai, Foxsemi­con had another im­por­tant iden­tity — as Ap­plied Ma­te­ri­als’ big­gest Tai­wanese con­trac­tor.

At the sight of so many in­sti­tu­tional in­vestors and media work­ers, Foxsemi­con Chair­man Liu Yin-kuang had a hard time not show­ing his nerves.

“It was hard not to be ner­vous. It was the first time for him as the chair­man of a sub­sidiary to step out on his own and face a crowd of in­vestors and media,” says a Hon Hai ex­ec­u­tive who knows Liu.

Hon Hai, bet­ter known out­side of Tai­wan as the Fox­conn Tech­nol­ogy Group, usu­ally has its chair­man, Terry Gou, speak pub­licly on the com­pany’s be­half, while other ex­ec­u­tives keep ex­tremely low pro­files.

“Don’t keep fo­cus­ing on me. I want to high­light the en­tire team. If you don’t know much about me, then let’s keep it that way. It doesn’t mat­ter,” said an un­com­fort­able Liu as the media pep­pered him with ques­tions.

Of course, there was lit­tle Liu could have said to dampen out­side observers’ cu­rios­ity be­cause he has taken the reigns of a com­pany that Gou once al­most gave up on.

In fact, Foxsemi­con’s evo­lu­tion has been any­thing but smooth sail­ing af­ter get­ting off to a suc­cess­ful start. When it was found- ed in 2001 with semi­con­duc­tor in­dus­try vet­eran Koven Tsao (

) as chair­man, the com­pany plunged into the semi­con­duc­tor equip­ment field and gained cer­ti­fi­ca­tion as an Ap­plied Ma­te­ri­als sup­plier within a year.

Story con­tin­ues on page 6

AFP

Terry Gou, left, chair­man and CEO of Foxsemi­con In­te­grated Tech­nol­ogy par­ent com­pany Hon Hai Pre­ci­sion In­dus­try group, poses for pho­tog­ra­phers with hu­manoid ro­bot “Pep­per,” at a Soft­Bank show­room in Tokyo, on June 6.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.