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Parlex, Infineon Technologies to Form Hong Kong Venture for Mobile Identification Products

METHUEN, Mass. (AP) -- Parlex Corp., a maker of flexible circuit products, reported Tuesday that it will form a joint venture with chip maker Infineon Technologies AG to make and sell technology layers for secure mobile electronic identification products.

Under the agreement, Parlex will hold 51 percent of the venture and will contribute equipment and technology while Munich, Germany-based Infineon will pay Parlex $3 million. The joint venture will be headquartered in Hong Kong and will maintain manufacturing facilities in China.

Parlex said it expects the venture to be operational by April, and to offer its products to customers worldwide.

Shares of Parlex closed up 3 cents, or less than 1 percent at $7.33 on the Nasdaq, and American depositary shares of Infineon closed up 10 cents, or nearly 1 percent at $10.82 on the New York Stock Exchange.

It was also mentioned on CBS-Marketwatch:
Parlex Corp, Infineon Tech form joint-venture (PRLX, IFX, DE:623101) By Chelsea Bellows
SAN FRANCISCO (CBS.MW) -- Parlex Corp. (PRLX) said Tuesday after the bell that it and Infineon Technologies (IFX) (DE:623101) have formed a joint venture to manufacture and sell advanced technology substrates for secure mobile electronic identification products. The joint venture will be headquartered in Hong Kong with manufacturing facilities in China, the companies said. Under the terms of the deal, Parlex will have a 51 percent equity share with Infineon holding the remaining share, while Infineon will pay Parlex $3 million and Parlex will contribute equipment and technology.

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