Joint Venture Shanghai Facility To Increase Production Capacity
SUNNYVALE, CA, — February 8, 2001 — Omniview International, a new joint venture company for the design and testing of CMOS image sensors used in electronic cameras and other optical imaging devices, today announced groundbreaking on a new production facility designed to increase production capacity to meet growth requirements. The new facility, located in Shanghai in the Peoples Republic of China, is owned and will be operated by Omniview International, a new joint venture. Construction is under way for a 14,000 square meter building located in the Seng Tiang Export Manufacturing Zone in Shanghai.
OMNIVISION Technologies, Inc. (Nasdaq: OVTI), a market leader in designing, developing and marketing advanced, single-chip CMOS image sensors, is the founding partner in the joint venture. In November 2000 OMNIVISION announced plans to further expand its operations in China, Europe and Southeast Asia. The new joint venture facility in Shanghai is the latest development in OMNIVISION’s plans to expand its operations.
“We are entering into this joint venture due to the growth in the market for CMOS image sensors and the need to ensure the availability of high-quality production services to meet our customers’ large volume requirements,” said Hank O’Hara, vice president of worldwide sales for OMNIVISION Technologies. “OMNIVISION Technologies recently announced it has shipped its 10 millionth image sensor chip.”
The Omniview International joint venture is chartered with providing contract services for the design and testing of CMOS image sensors. As the initial partner in the joint venture, OMNIVISION Technologies, Inc. will provide its proprietary testing equipment to initiate automated final testing services. Other joint venture partners are anticipated to be announced in the coming months.
Shanghai was selected as the location for the joint venture due to its low cost of operations and its proximity to semiconductor foundries used for CMOS image sensor wafer manufacturing. Additionally, Shanghai was strategically identified for the large potential market for CMOS image sensors in both China and Southeast Asia. The new facility is located on 41,564 square meters of land on a 50-year lease, allowing room for future expansion.
About OMNIVISION
OMNIVISION Technologies, Inc. designs, develops and markets high-performance, high-quality and cost-efficient camera chips. The company’s single-chip image sensors are used in a variety of electronic cameras and optical imaging products for both still picture and live video applications. OMNIVISION provides all the functionality of a complete camera, and only a lens need be added. OMNIVISION is able to integrate all image system functions into a single chip instead of multiple chips required to achieve the same functions by competitive image sensors. The single-chip design enables customers to design cameras that are lower in cost, smaller, lighter in weight, consume less power, are more reliable and more easily integrated with other circuits than cameras using multiple-chip image sensors. OMNIVISION is based in Sunnyvale, California. For more information about the company, visit www.ovt.com.
OMNIVISION is a trademark of OMNIVISION Technologies, Inc. All other trade, product or service names referenced in this release may be trademarks or registered trademarks of their respective holders.
Certain statements in this press release, including statements regarding the automated final testing services OMNIVISION will provide to Omniview International; the new joint venture partners of Omniview who will be announced in the coming months; the total amount of investment in Phase I of Omniview and the large potential markets for CMOS image sensors in China and Southeast Asia are forward looking statements that are subject to risks and uncertainties. These risks and uncertainties, which could cause the forward looking statements and the company’s results to differ materially, include, without limitation, a delay in the widespread acceptance of CMOS technology; foreign, business political and economic risks; new markets for CMOS products may not emerge; the company may not be able to compete successfully in its current markets and in emerging markets due to intense competition and the risks detailed from time to time in the company’s Securities and Exchange Commission filings and reports, including, but not limited to, the company’s quarterly reports filed in calendar year 2000. The company disclaims any obligation to update information contained in any forward looking statement.