HSINCHU, Taiwan, June 1 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced that ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), a 95.5% owned subsidiary of ChipMOS, would receive US$12.6 million from ProMOS Technologies Inc. ("ProMOS") as payment in full of an outstanding accounts receivable balance owed to ChipMOS Taiwan. Under an amendment to an existing service agreement, ProMOS paid ChipMOS Taiwan US$6.3 million on May 28, 2010. The remaining US$6.3 million will be paid in 9 installments ending on March 15, 2011.
In recognition of the full payment, ChipMOS Taiwan has agreed to release to ProMOS production equipment held as collateral. Payment terms will also be provided to ProMOS for future services.
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.
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: email@example.com In the U.S. David Pasquale Global IR Partners Tel: +1-914-337-8801 Email: firstname.lastname@example.org
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