PH semiconductor firm sells US unit at 93% loss

Cirtek exits Quintel USA after nearly a decade of ownership as global manufacturing headwinds persist.

Semiconductor manufacturer Cirtek Holdings Philippines Corporation (CHPC) has exited its investment in Quintel USA Inc., selling the US-based antenna provider for US$5.3 million, nearly a decade after acquiring it for US$77 million in 2017.

The transaction resulted in a nearly 93% loss for CHPC. Quintel will be absorbed by John Mezzalingua Associates, LLC (JMA), a wireless infrastructure service provider in North America.

CHPC said the sale was done to streamline operations and align resources with its strategic long-term growth plans.

Earlier this year, the company delayed the release of cash dividends for its preferred shares amid difficulties with cash flow preservation. The dividends were approved in March 2025 and scheduled for payout in October 2025 before being postponed again in January 2026. The company has yet to announce a new payout date.

The Quintel divestment comes amid ongoing challenges in the global manufacturing industry, especially in the Philippines and the US. Though investments in AI have boosted demand for semiconductors and technical manufacturing, global conflict and oil supply concerns have weighed on output.

READ: