ON Semiconductor, formerly a division of Motorola, Tuesday signed an inaugural agreement with the Hong Kong Science Park, becoming the first company to make a commitment to establish offices in the Park.

ON Semiconductor will occupy more than 30,000 square feet of office space, setting up its Asia Pacific Headquarters in the Hong Kong Science Park.

"ON Semiconductor is extremely proud to be the first company to make a formal commitment to the Hong Kong Science Park, " said Henry Leung, vice president and general manager in Asia Pacific for ON Semiconductor.

"Having selected Hong Kong as our Asia Pacific headquarters because of its strategic location for regional markets, the move to the Science Park is the next important step in the company's development path." he said.

Citing the advantages of industry clustering and strong links to local universities as key strengths for the Hong Kong Science Park, Leung added: "We believe that the Science Park is well designed to encourage innovation in order to enhance Hong Kong's competitiveness in the technology sector."

The Hong Kong Science Park was launched last month to promote the growth of new technology industries in Hong Kong. Its tenants will mainly come from four key industry sectors including electronics, information technology, biotechnology and precision engineering. (Xinhua)