Dynex Power

Zhuzhou CRRC Times Electric completed the acquisition of the remaining 25% shares in Dynex Power Inc. for CAD 13.1 million, making Dynex Power a wholly-owned subsidiary.

Dynex Power Inc. announced a privatization transaction where controlling shareholder Zhuzhou CRRC Times Electric Co., Ltd. will acquire all common shares it does not already own for $0.65 per share in cash. CRRC Times Electric currently holds approximately 75% of Dynex shares.

Dynex Power Inc. announced the formation of a new Semiconductor Foundry Services business and the receipt of its first production order for high-power IGBT die from a major international semiconductor device manufacturer.