Tech firm Cirtek bags 3 new contracts

Listed technology firm Cirtek Holdings Philippines Corporation announced that it has bagged new manufacturing contracts from three global semiconductor companies worth $5 million in annual revenues.

Cirtek provides complete manufacturing solutions for semiconductor devices and complex radio frequency (RF), microwave and millimeter wave products.

In a disclosure to the Philippine Stock Exchange, the firm said its wholly-owned semiconductor assembly and test subsidiary Cirtek Electronics Corporation (CEC) was chosen by Bourns to manufacture Over Molded package Power Transient Voltage Suppressor devices, or PTVS and Transient Blocking Unit products or TBU.

TBU is also a surge protection device for industrial and automotive battery management protection. PTVS is a unique diode protection device designed to protect sensitive electronic equipment by absorbing high energy transients such as those from indirect lightning strikes.

Under the supply agreement, Bourns will supply the manufacturing equipment while CEC will provide dedicated space and personnel.

Cirtek has also been selected by two of the top 10 largest global semiconductor Integrated Device Manufacturers (IDMs) to manufacture microelectromechanical systems (MEMS) and protection devices for commercial applications that is estimated to generate a combined $2.5 million per year of new revenue for CEC.

The MEMS product is expected to begin production by the second quarter of 2017. Annual sales value of the MEMS project is estimated at $1.5 million.

For the protection devices, Cirtek estimates a minimum $1 million annual sales. However, once this device is launched successfully, Cirtek expects more significant business from the customer.

“We are honored to have been selected to support Bourn's PTVS project," said Cirtek Chairman Jerry Liu, adding that “our partnership with Bourns spans more than 10 years and we appreciate their longstanding trust in our product and service quality and execution.”

Liu said “we will continue to provide innovative and efficient solutions to support our customers' growth and success.”

“We continue to expand our partnership with Cirtek as we consolidate operations and continue to grow our semiconductor business,” said Craig Shipley, Vice President and General Manager of Bourns Communications Division. (JAL)