TI Korea (CEO Kent Jeon, www.ti.com/ww/kr ) December 26, 2013 – Texas Instruments (TI) announced today that it has acquired UTAC Chengdu, located in the Chengdu High-Tech Park, in accordance with a plan announced earlier this year. TI announced a long-term investment strategy, with plans to invest a total of $1.69 billion in the business over the next 15 years.

The newly acquired facility, spanning 358,000 square feet (33,259 square meters), is TI's seventh assembly/test (A/T) site. Co-located with TI's existing wafer fab in Chengdu, it will be TI's only end-to-end wafer manufacturing and A/T facility.

“TI’s operations in China are critical to supporting our customers now and for the long term, and we are excited to have TI’s only fully integrated fab and A/T facility in Chengdu,” said Kevin Ritchie, senior vice president of TI’s Technology and Manufacturing group. “The addition of this back-end facility further strengthens TI’s global manufacturing capabilities, further ensuring continuity of supply for our customers and enabling them to further support their growth.”

TI will immediately begin renovating this facility into a state-of-the-art facility while also operating a small-scale production line in the building. TI will prioritize reducing water, energy, and waste during the remodel, consistent with the environmental principles implemented at its manufacturing facilities worldwide. TI plans to complete the facility's renovation and put it into operation by the end of next year.

This investment plan does not change TI's capital expenditure outlook for 2013. TI expects capital expenditures to remain at approximately 4% of sales as long as sales exceed 18 billion won, and to fall to between 4% and 7% of sales in the long term.

TI has been supporting customers in China for over 27 years, operating 18 offices in China for sales and application support, including a wafer fabrication facility in Chengdu and a product distribution center in Shanghai.

TI also has manufacturing facilities in several locations around the world, including the United States, Mexico, Germany, Scotland, China, Malaysia, Japan, Taiwan, and the Philippines.