HSINCHU, Taiwan, Jan. 20 /PRNewswire-Asia-FirstCall/ -- ChipMOS
TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS)
announced that on January 19, 2009 its wholly owned subsidiary ChipMOS
TECHNOLOGIES INC. ("ChipMOS Taiwan"), delivered a notice of breach and notice
of intent to terminate a service agreement with Spansion LLC ("Spansion") in
the U.S. pursuant to the terms of the service agreement. Spansion currently
has an outstanding account receivable with ChipMOS Taiwan of approximately
US$57 million of which approximately US$18 million is in default. The service
agreement provides 30 days for Spansion to continue the agreement with a
payment of the amount in default to ChipMOS Taiwan. ChipMOS Taiwan has also
given Spansion notice that pursuant to Article 928 and Article 929 of the
Taiwanese Civil Code it has obtained a statutory lien on the Spansion's
inventory and related equipment and materials currently in ChipMOS Taiwan's
possession. ChipMOS Taiwan reserves all of its rights and remedies available
under the agreement and applicable law.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS ( http://www.chipmos.com/ ) is a leading independent provider of
semiconductor testing and assembly services to customers in Taiwan, Japan, and
the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks
in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and
assembly services to a broad range of customers, including leading fabless
semiconductor companies, integrated device manufacturers and independent
semiconductor foundries.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as
"forward-looking statements" within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may cause the
actual performance, financial condition or results of operations of the
Company to be materially different from any future performance, financial
condition or results of operations implied by such forward-looking statements.
Further information regarding these risks, uncertainties and other factors is
included in the Company's most recent Annual Report on Form 20-F filed with
the U.S. Securities and Exchange Commission (the "SEC") and in the Company's
other filings with the SEC.
Contacts:
In Taiwan R.O.C.
Dr. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com
In the U.S.
Joseph Villalta
The Ruth Group
Tel: +1-646-536-7003
Email: jvillalta@theruthgroup.com
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.