CG Power, Renesas Electronics and Stars Microelectronics to form a joint venture.

CG Power, an engineering conglomerate, Renesas Electronics, a semiconductor manufacturer, and Stars Microelectronics, a total electronic solution provider of Outsource Semiconductor Assembly and Test and electronics manufacturing services, agreed to form a joint venture. Financial terms were not disclosed. “CG’s entry into the semiconductor manufacturing marks a strategic diversification for us. Our partners, Renesas and Stars Microelectronics, will make our learning curves steeper and help us focus on innovation and excellence. This is a very exciting phase for the entire nation, and we are very keen to build out India’s semiconductor capability and ecosystem,” S. Vellayan, CG Power and Industrial Solutions Chairman.