Bangkok--15 Feb--Penettrate
- Become first company to receive insurance money; expecting all payment by 3rd quarter this year
- Full Production to resume 100% in early May
Stars Microelectronics (Thailand) PLC or SMT receives 500 million baht from the insurance company as an advance payment. Company expects to resume 100% operation within next 2-3 months.
Khun Polsak Lertputtipinyo, Chief Executive Officer of Stars Microelectronics (Thailand) PLC or SMT reveals that “The Company has comprehensive insurance policies that covers all damages from flood in its Bangpa-in industrial park, including machinery and equipment, factory building, raw material and inventory, as well as business opportunity loss. Our total insurance coverage is approximately 3,800 million baht. Recently, SMT becomes one of the first companies affected from flood crisis, to receive insurance payment; being awarded 500 millions baht from Dhipaya Insurance PLC and Co-insurers . SMT will use that sum to renovate the Clean Room and the production facilities as well as ordering new machine and equipment with latest technology. The company expects to resume a Full 100% Production in early May, this year. In addition, we expect to receive the full insurance payment within the 3rd quarter this year.”
SMT or Stars Microelectronics (Thailand) Plc. is one of the world’s Prime Source Manufacturers for many electronics components with its owned Technology. The company has successfully focused on its major 2 business lines: 1. Microelectronic Modules Assembly (MMA) and 2. Integrated Circuit Packaging & Testing (IC). SMT’s main customers are world’s leading companies from USA, Japan, Asia and Europe. Their leading product variety include Smart Phones’ Touch Screen, Automotive TPMS Sensors, Hard Disk Drive Panels, MEMS and advanced IC for automotive and telecom industries.