Diodes Majority Control to Go to Taiwanese Firm

A Taiwanese firm will obtain majority control of Diodes Inc. in Chatsworth under an agreement announced by the companies.

Diodes, which makes semiconductor components, said it agreed to sell 384,616 newly issued common shares to Lite-On Power Semiconductor of Taiwan for $400,000. Lite-On Power is a unit of Silitek Corp., a Taiwanese semiconductor concern that already is a major Diodes stockholder.

Following completion of the sale, Lite-On and Silitek will own 51.3% of Diodes’ total shares outstanding.

Diodes also announced talks with Lite-On for a joint venture to establish and operate a semiconductor rectifier plant in China. Proceeds from Diodes’ stock sale would be used toward that joint venture, the company said.