LONDON IQE plc's RF business unit has become the preferred supplier of advanced GaAs epi wafers to Anadigics Inc. in a multi-year contract which is valued at approximately $50 million over the first two years.
IQE (Cardiff, Wales) will provide a range of wafer products to Anadigics (Warren, NJ) which will be used to manufacture wireless chips for 3G, Wi-Fi, WiMAX, broadband and set top box applications.
“We are extremely pleased to have been awarded this preferred supplier contract from one of the world’s leading suppliers of advanced chips to the wireless communications industry. We have been working very closely with Anadigics over the last two years, to support their rapid growth plans,” said Dr Drew Nelson, chief executive of IEQ.
IQE has also released its interim results for the half year ended June 30 which show revenues up 80 percent at constant exchange rates to £26.2million (about $52million) and an EBITDA profit of £1.3million (about $2.6million).
Dr. Bami Bastani, president & CEO of Anadigics explained that the deal was partly in recognition of IQE's wafer production strategy which gives us confidence that they can fully support our aggressive growth plans over the next few years.
IQE operates six manufacturing facilities located in Cardiff (two) and Milton Keynes in the U.K.; in Bethlehem, Pennsylvania and Somerset, New Jersey in the U.S.; and Singapore.