A subsidiary of Cirtek Holdings Philippines Corp. entered into a partnership with a German semiconductor company, positioning the local firm for growth despite an expected slowdown in the electronics industry.

In a statement, Cirtek Holdings said its unit Cirtek Electronics Corp. will manufacture Telefunken Semiconductors Inc.’s AC-DC regulators intended for low power off line switch mode power supplies.

The device is intended for battery charger adapters for portable electronics, auxiliary power supplies for industrial systems and standby power for televisions or monitors.

Antonio Callueng, Cirtek Holdings senior director for sales, said the agreement will also enable the company to demonstrate its advantage in the production of copper wire bonding, an alternative solution to gold wire bonding.

“Although most of the market watchers have the impression of a global slowdown in the semiconductor industry towards the fourth quarter, Cirtek continuous to win new business and receive repeat orders as consumers continue demands for new technologies on smart phone applications, electronics in automotive applications as well as devices for energy savings and green energy that perfectly match Cirtek packaging capabilities,” Callueng said.

The official said the new business will entail the expansion for new equipment and will facilitate additional employment opportunities to the local community in its 20,000-square-meter manufacturing site at the Laguna Technopark in Biñan, Laguna.

Telefunken is a world leader in the design and manufacture of energy efficient integrated circuits for power management and high-performance Interface. It has significantly increased its capability to service the semiconductor foundry market with the recent acquisition of an advanced automotive-qualified fabrication plant in Roseville, California.

A Philippine Economic Zone Authority-registered entity, CEC’s facilities are located on a two-hectare property within the Laguna Technopark. Its product offerings include voltage/current protection packages, light sensor packages, real-time clock, voltage control oscillators, electronic relays and power management devices.

Cirtek Holdings on Tuesday kicked off its initial public offering of 42.16 million common shares at P7 each. The offer period is scheduled to run until November 14.

The offer shares represent 26 percent of its total issued and outstanding shares of 162.16 million shares.

Cirtek Holdings will raise a total of P295.14 million from the maiden share sale, which would finance part of its three-year expansion program beginning this year to boost its business and expand its customer base.

The company’s shares will be listed on the Philippine Stock Exchange on November 18, becoming the third company to go public this year after Megawide Construction Corp. and Puregold Price Club Inc.