GPI Acquires Syndicated Loan of US$ 80M

Taiwanese LED manufacturer Genesis Photonics Inc. (GPI) has sealed a NT $2.55 billion (US $80 million) loan deal with a syndicate of local banks in Taiwan to repay loans and expand the company’s operation capital.

The syndicate loan is led by five Taiwanese banks including Mega International Commercial Bank, First Commercial Bank, Taiwan Cooperative Bank, Land Bank of Taiwan, and Chang Hwa Bank (CHB). A total of nine Taiwanese financial institutions are involved in the deal.

The banks have approved the syndicate loan, and will be signing the loan agreement with GPI on June 10, 2015.

GPI has been aggressive in its business strategy transformations including differentiating product portfolio, developing added value products applications, and internationalization. The company has gradually scaled back on manufacturing conventional low power LED die for lighting applications, and has been increasing sales of highly added value products. These include high current density EMC lighting and backlight applications, and deployed a comprehensive flip chip and flip chip Chip Scale Package (CSP) technology. GPI has a presence in the automotive lighting market and related flip chip application fields. The company’s flip chip applications are estimated to make up 20% to 25% of the company’s revenue for the second quarter, and the proportion will gradually increase.

Certain international TV manufacturers, smartphone makers, and  European lighting manufacturers have adopted GPI's flip chip products for high resolution backlight applications, smartphone flash lights or special lighting applications. The company has become a long term supplier to these manufacturers. The company has also launched an integrated flip chip and high power solution Zeus Headlamp for automotive lighting applications. GPI is co-developing the solution with car makers.

LEDinside projects the flip chip LED market value will exponentially grow from US $1.5 billion in 2013 to $ 5.5 billion industry by 2017. Flip chip LED chips have the advantages of having the capacity being driven under higher currents, higher reliability, and high luminous flux. All these are great advantages for lowering costs. 

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