UMC shareholders approve the acquisition of He Jian Technology

Taiwanese semiconductor fab services company United Microelectronics Corporation (UMC) has announced that, its shareholders in their recently held meeting have approved UMC's acquisition of Mainland China based semiconductor fab services company He Jian Technology (Suzhou) Co., Ltd. The completion of the acquisition is subject to approval from government authorities. The shareholders also approved the new share issuance for the merger with the holding companies of He Jian.

HeJian Technology is having 8-Inch fab at Suzhou Industrial Park, Jiangsu Province, China with a monthly capacity of 60,000 wafers.

In the same meeting the shareholders have elected four independent directors and one outside director to increase operating transparency as well as maintain the interaction and balance between the board and the management team.