Advanced Technology Investment Company (ATIC) plans to spend $2 to $3 billion to expand production capacities of Globalfoundries this year and also boost its stake in the contract maker of semiconductors. Eventually it would completely buy Advanced Micro Devices’ stake in Globalfoundries.
"ATIC's stake now is 68%. It will go up to 70% in two to three months. The intent is to make sure that Global Foundries is well capitalised and AMD is a buyable player," said Ibrahim Ajami, chief executive of ATIC, in an interview with Reuters news-agency. Mr. Ajami added that that ATIC would acquire the remaining stake in Globalfoundries in the period of two to three years.
Sunnyvale, California-based Globalfoundries has manufacturing operations in Germany, Singapore and a planned facility in New York, which will cost nearly $5 billion.
The Dresden, Germany, plant's capacity is 30 000 300mm wafers per month, and seen rising to 60 000 wafers a month by 2012.
"We will be doubling capacity in 24 months, spending $2-3 billion for expansion. We will continue to focus on our growth strategy in the next two to three years to position ourselves in the marketplace,” added Mr. Ajami.
ATIC, which acquired Chartered Semiconductor late in 2009 may continue to invest into other semi manufacturers going further so to keep growing.
"As an investment company, acquisitions are always in the pipeline but I am not interested in buying foundries and consolidating further and facing challenges of business integration. We have ambitious targets, we are new and we are investing, so we will grow faster," said the head of Advanced Technology Investment Company.