Phoenix Semiconductor Philippines Corp. (PSPC) announced that it has signed with Samsung Electronics Co. Ltd. (Samsung) and SFA Semicon Co., LTD. (SSK), the Master Agreement for the production of memory products for Samsung of South Korea.

The existing Business Transaction Agreement (BTA) with Samsung provides for an extension until February 2017. This new Agreement effectively renews the existing BTA for three more years starting June 1, 2016. It also provides for an automatic renewal for one year if no amendments will be found needed by any of the contracting parties.

Based on the Agreement, Samsung shall continue to supply critical production materials and semiconductor manufacturing and testing equipment over the contract period to ensure that PSPC conforms to the former's standards of product quality and manufacturing efficiencies.