Listing: TSX Venture Exchange
Symbol: DNX
Times Electric Innovation Centre to be located
in Birmingham, West Midlands, UK
LINCOLN, England, Jan. 29, 2018 /CNW/ - Dynex Power Inc.
(TSXV: DNX), a leading, high power semiconductor company, today
announces a substantial new investment in the UK by its majority
shareholder, CRRC Times Electric. The Times Electric Innovation
Centre (TEIC) will be established in the first half of 2018 in
Birmingham, England, and will
focus on cutting-edge research and development of
semiconductor-based products and technology across a wide power
range. This research will be applicable to key growth markets,
including electric vehicles, rail traction, aerospace, power
distribution and renewable energy.
Over the coming years, the TEIC is expected to grow to include
hundreds of research and development engineers, as part of the
strategy for the combined CRRC-Times Electric and Dynex partnership
being a major global leader in semiconductor technology.
Dynex will have full, royalty-free, access to the
semiconductor-related outputs of the new TEIC that are relevant to
the Dynex business strategy.
Research and Development will continue on the Lincoln UK site as before. Dynex has been
heavily focused on the acceleration of its new product
introduction, including the release - within the last 12 months -
of industry-leading Trench Gate and DMOS high-power IGBT modules, a
world-first design of Press-Pack IGBTs, new HVDC products, and the
launch of a new Foundry Services business. Further developments in
the Lincoln R&D Centre will see yet more new product releases
in the coming months from Dynex, as the company secures its
position as a high-power semiconductor technology leader.
Clive Vacher, Dynex President and
CEO, commented, "We welcome the decision of CRRC Times Electric to
make such a significant investment in technology development in the
UK. The new Times Electric Innovation Centre will bring substantial
incremental capabilities to our portfolio, and help us to
accelerate our journey towards technological leadership in the
industry. Dynex will work in partnership with TEIC over the coming
years, and our customers will benefit from further enhancements to
the technology, efficiency and quality of our products and
solutions. This investment is also a great endorsement of the
quality of British technology and innovation."
Liu Ke'an, the Chairman of Dynex
and General Manager of CRRC Times Electric, added, "The new Times
Electric Innovation Centre is a significant investment decision,
highlighting our commitment to innovation, research and development
in the UK. It forms a major part of our growth strategy in the
semiconductor industry as a whole, and will provide great
enhancements to the capabilities and success of Dynex in the
future."
Forward-looking Statements
In commenting on its
expectations, the Company cautioned existing and potential
shareholders about relying on the Company's expectations in that
the Company's expectations contain forward looking statements and
assumptions which are subject to the risks and uncertainties of the
markets and the future, which could cause actual results to differ
materially from expectations, and which are each difficult and
subjective to forecast. Certain of those risks and uncertainties
are discussed in the Management's Discussion and Analysis for the
quarter ended March 31st , 2016 and
include, among other things, risks and uncertainties relating to:
the level of worldwide demand for power semiconductors and power
semiconductor assemblies; the level of investment in power
electronic equipment, electrification of transport systems,
alternative power generation and high quality power transmission
and distribution; and fluctuations in exchange rates between
Canadian Dollars, Sterling, US dollars and Euros. As a consequence
of these and other risks and uncertainties, shareholders and
potential investors must make their own independent judgments about
the accuracy and reliability of the Company's expectations. Dynex
disclaims any intention or obligation to update or revise any
forward looking statement whether as a result of new information,
future events or otherwise.
About the Company
Dynex designs and
manufactures high power bipolar semiconductors, high power
insulated gate bipolar transistor (IGBT) modules and die, high
power electronic assemblies and radiation hard silicon-on-sapphire
integrated circuits (SOS IC's). The company's power products are
used worldwide in power electronic applications including electric
power transmission and distribution, renewable and distributed
energy, marine and rail traction motor drives, aerospace, electric
vehicles, industrial automation and controls and power supplies.
The Company's IC products are used in demanding applications in the
aerospace industry. Dynex Semiconductor Ltd is its only operating
business and is based in Lincoln,
England in a facility housing the fully integrated silicon
fabrication, assembly and test, sales, design and development
operations. In 2008, a majority of the shares of Dynex were
acquired by Zhuzhou CSR Times Electric Co., Ltd. In April 2016 this company changed its name to
Zhuzhou CRRC Times Electric Co., Ltd.
Zhuzhou CRRC Times Electric Co., Ltd. is based in Hunan Province in the People's Republic of China. It is listed
on the Hong Kong Stock Exchange. CRRC Times Electric is mainly
engaged in the research, development, manufacture and sales of
locomotive train power converters, control systems and other
train-borne electrical systems, as well as the development,
manufacturing and sales of urban railway train electrical systems.
In addition, CRRC Times Electric is also engaged in the design,
manufacturing and sales of electric components including power
semiconductor devices for the railway industry, urban railway
industry and non-railway purposes.
Press announcements and other information about Dynex are
available at www.dynexpower.com.
Further information on CRRC Times Electric can be found at
www.timeselectric.cn/en
All monetary values expressed in this release are in Canadian
Dollars unless stated otherwise.
The TSX Venture Exchange has neither approved nor disapproved of
the information in this press release.
SOURCE Dynex Power Inc.