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METHUEN, MA, Dec. 28 -- Infineon Technologies and Parlex Corp. have struck a deal to jointly manufacture and sell substrates for secure mobile electronic identification products. The companies will set up a JV to supply substrates for Infineon's Flip Chip on Substrate program, and to outside customers.

The joint venture will be headquartered in Hong Kong with manufacturing facilities in China. Operations are expected to begin in April.

Under the terms of the agreement, Parlex will have a 51% equity share with Infineon holding the remaining share. Infineon will also pay Parlex $3 million.

Parlex's Shanghai flex circuit plant will also provide certain services which will be paid for by the JV, the companies said.

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