SHANGHAI, China, March 26, 2015 (GLOBE NEWSWIRE) -- NXP Semiconductors (Nasdaq:NXPI) today announced the establishment of NXP (China) Management Co., Ltd in Shanghai, converted from the original company, NXP Semiconductors (Shanghai) Co., Ltd. The company will be responsible for all of NXP Semiconductors current operations in China, and will have expanded responsibilities covering investment, strategy, capital operations and financial management, among other areas. The change in structure will allow NXP to better support, and provide a lasting contribution to, the development of the Chinese semiconductor market.
"The Chinese market is a vital part of our global development strategy," said NXP chief executive officer, Rick Clemmer. "We have a strong track record of long-term investment of global technology resources in China, and are devoted to enabling secure connections for the smarter world in this market. The establishment of NXP (China) Management Co., Ltd. further strengthens our commitment to the Chinese market and customers."
The Dutch Prime Minister, Mark Rutte, who is visiting China this week, said: "The Netherlands is one of China's top three trading partners in Europe. Bilateral co-operation exists across science and technology, agriculture, energy conservation and city planning. The establishment of NXP's regional headquarters in Shanghai reflects these growing links in science and technology, where there exists great scope for future development."
"The establishment of NXP (China) Management Co., Ltd., is a new milestone in NXP's market development in China," said NXP senior vice president and China CEO, Li Zheng. "With this new structure, we will be better placed to innovate through products, collaborate with Chinese enterprises, and respond to global competition. NXP will support the Chinese government in achieving the goals of national industrialization and innovation in the near future, and act as a model of inclusive growth partnerships in China."
About NXP Semiconductors
NXP Semiconductors N.V. (Nasdaq:NXPI) creates solutions that enable Secure Connections for a Smarter World. Building on its expertise in High Performance Mixed Signal electronics, NXP is driving innovation in the application areas Connected Car, Security, Portable & Wearable and Internet of Things. NXP has operations in more than 25 countries, and posted revenue of $5.65 billion in 2014. Find out more at nxp.com.
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