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	Microchip Technology Incorporated	91.36	1.90	2.12%
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As part of a larger company initiative to increase supply chain resiliency, this initiative will focus on specialized 40nm processes for Microchip

CHANDLER, Ariz., April 08, 2024 (GLOBE NEWSWIRE) -- Microchip Technology (Nasdaq: MCHP) announced it has expanded its partnership with TSMC, the world's leading semiconductor foundry, to enable a specialized 40 nm manufacturing capacity at Japan Advanced Semiconductor Manufacturing, Inc. (JASM), TSMC's majority-owned manufacturing subsidiary in Kumamoto Prefecture, Japan. This partnership is part of Microchip's ongoing strategy to build resiliency in its supply chain. Other initiatives include investing in additional technology to boost internal manufacturing capabilities and capacity, as well as establishing more geographical diversity and redundancy with wafer fab, foundry, assembly, test and OSAT partners.

"Microchip's reputation for providing responsible and reliable supply management is enhanced with this new TSMC manufacturing path," said Michael Finley, Microchip senior vice president of worldwide manufacturing and technology. "Customers can have confidence when designing our products into their applications and platforms, with the support of resilient and robust manufacturing capabilities."

The wafer capacity supply from JASM further strengthens Microchip's ability to serve a broad base of global customers in a variety of markets including automotive, industrial and networking applications.

"This initiative with Microchip is further proof of TSMC's commitment to supporting our customers' long-term growth and innovation," said Rose Castanares, senior vice president of business management at TSMC North America. "Our expanded collaboration with Microchip will ensure that as leading technologies continue to develop, so will our collective ability to manufacture and deliver those capabilities to global customers when they are needed."

The TSMC partnership and JASM capacity adds more assurance to the manufacturing landscape, helping reduce Microchip's potential of disrupted supply by offsetting external factors such as frequently changing business conditions and natural disasters. To learn more about Microchip's commitment to corporate responsibility and dedication to its customers, visit Microchip.com.

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About Microchip Technology:
Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company's solutions serve approximately 125,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

Note: The Microchip name and logo and the Microchip logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

Cautionary Statement:
The statements in this release relating to the partnership enabling a specialized 40nm manufacturing capacity, that the capacity strengthens Microchip's ability to serve a broad base of global customers in a variety of markets, and that the capacity helps reduce Microchip's potential of disrupted supply by offsetting external factors are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: conclusion of the corridor, anticipated manufacturing of certain product types and featuring certain technology at the corridor, changes in demand or market acceptance of these products and the products of our customers and our ability to meet market demand.

For a detailed discussion of these and other risk factors, please refer to Microchip's filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip's website (www.microchip.com) or the SEC's website (www.sec.gov), or from commercial document retrieval services.

Stockholders of Microchip are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Microchip does not undertake any obligation to update any forward-looking statements to reflect events, circumstances publicly, or new information after this press release or to reflect the occurrence of unanticipated events.