Rexchip Electronics, a joint venture between DRAM makers Elpida Memory and Powerchip Technology, reelected its board of directors at yesterday's shareholders meeting. Elpida and Powerchip gained four and three seats respectively on Rexchip's board of directors.
Powerchip chairman Frank Huang, who earlier resigned as Rexchip chairman, has stepped down from the JV's board of directors.
Meanwhile, Rexchip elected Mike Chen, VP of Operations for Kingston Technology, as an independent member of the board. The memory module maker is a partner of Elpida's. Elpida now holds a 64% stake in Rexchip.
Rexchip is currently traded on Taiwan's Emerging Stock Board (ESB), and plans to apply for listing on the main board of the Taiwan Stock Exchange (TSE) by the end of 2010, according to the company.
In addition, Rexchip revealed its transition to 45nm is expected to complete by the end of this year. The company was quoted in previous reports saying it would transfer all of its 12-inch capacity (80,000 wafer starts a month) to Elpida's 63nm process in July.
Rexchip generated revenues of NT$21.37 billion in the first five months of 2010, showing significant growth compared to NT$8.09 billion posted a year ago.