Australian-listed Israel-based semiconductor company Weebit Nano has appointed Jackson Lam as vice-president Strategic Alliances, China, in an advisory capacity.
Lam, who has almost 40 years of experience in the Chinese semiconductor industry, will be responsible for Weebit Nano’s partnerships in China, including customers, potential industry partners, and investors.
He also spent 15 years with Panasonic in business development, and established an R&D and manufacturing company providing services for many well-known international semiconductor companies. In the past 12 years, Lam has focused on helping Israeli companies set-up and expand their business in China.
According to Weebit Nano (ASX: WBT) the Chinese semiconductor industry is growing rapidly ― faster than the rest of the world ― with revenues expected to reach almost US$129 billion by 2021, nearly a third of global revenue.
The Chinese Government recently allocated a 300 billion yuan (US$47.4 billion) fund for development of the industry and this makes China a prime target for semiconductor providers such as Weebit Nano.
“The Chinese market has become very important in the strategic plans of semiconductor companies and represents huge potential for Weebit Nano,” said Coby Hanoch, chief executive of Weebit Nano.
“Jackson has a very deep understanding of the dynamics of this market. His broad experience in helping Israeli companies grow in the Chinese market and connecting them to local investors, is extremely valuable to us.”
“I am very excited to join the Weebit Nano team. Weebit Nano has made rapid progress in developing its ReRAM technology, which I believe has significant potential in China to be of interest to a large number of parties,” said Lam.
“There are many companies and investors looking for good strategic investment opportunities in the semiconductor space, and now is the right time for Weebit Nano to enter this market.”
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