SMIC to Invest in Wuhan Xinxin
Poster: SySAdmin
Posted on October 28, 2010 at 8:49:01 PM
SMIC to Invest in Wuhan Xinxin
Writing a New Chapter in Scientific Development
WUHAN, China, Oct. 28 /PRNewswire-Asia/ -- The Wuhan East Lake Hi-Tech
Development Zone Administrative Committee and Semiconductor Manufacturing
International Corporation ("SMIC," NYSE: SMI, SEHK: 0981.HK) today signed a
cooperation framework agreement in Wuhan's East Lake Hotel in which both
parties agreed to cooperate and jointly invest in the 12-inch wafer production
facilities of Wuhan Xinxin Semiconductor Manufacturing Corporation (Wuhan
Xinxin) through cash injection.
The official signing ceremony was attended by the President of the Chinese
Academy of Engineering Zhou Ji; officials from the National Development and
Reform Commission, China Development Bank, and Hubei Province; Wuhan City
Party Secretary Yang Song; Wuhan Mayor Ruan Chengfa; SMIC Chairman Jiang
Shangzhou; SMIC President and C.E.O. David N.K. Wang; and others.
SMIC began its cooperation with Wuhan City in early 2006 when its
government funded and constructed Wuhan Xinxin and engaged SMIC to manage it.
Wuhan Xinxin commenced production in September 2008, with its fab construction
and operations meeting global industry standards. The signing of this new
agreement strengthens the commitment between SMIC's new management team and
the Wuhan government to move towards greater expansion and development.
The cooperation framework agreement proposes a possible joint venture
driven by corporate responsibility and profitability, which will focus on
65-40 nanometer integrated circuits with a goal of achieving a production
capacity of 45,000 wafers per month within three years of its establishment.
Capacity planning for this new phase will be consistent with industry
standards for profitable development, with products and technology driven by
market demand.
This cooperation will benefit both parties and serve as a strategic
component in SMIC's expansion plan over the next five years. It also will
become a key contributor to the Chinese and global semiconductor industries,
as a reliable platform for high-end chip manufacturing.
Through this agreement, SMIC and Wuhan City will collaborate extensively
in areas such as talent development, chip design, and supply chain improvement,
to promote the economic development of Wuhan's "Optics Valley" and upgrade
Hubei Province's information & technology industry. As East Lake High-tech
Zone is developing its strategy to build the "National Innovation Model Area"
and "China Optical Valley," this cooperation will become an innovation engine
to drive their development.
About SMIC
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI;
SEHK: 981) is one of the leading semiconductor foundries in the world and the
largest and most advanced foundry in Mainland China, providing integrated
circuit (IC) foundry and technology services at 0.35-micron to 45/40-nanometer.
Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility
(fab) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer
fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, a 200mm fab under
construction in Shenzhen, and an in-house assembly and testing facility in
Chengdu. SMIC also has customer service and marketing offices in the U.S.,
Europe, and Japan, and a representative office in Hong Kong. In addition,
SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin
Semiconductor Manufacturing Corporation.
For more information, please visit http://www.smics.com .
Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of 1995) This press release contains, in addition to historical information,
"forward-looking statements" within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including statements regarding the expected
benefits of the cooperation, are based on SMIC's current assumptions,
expectations and projections about future events. SMIC uses words like
"believe," "anticipate," "intend," "estimate," "expect," "project" and similar
expressions to identify forward-looking statements, although not all forward-
looking statements contain these words. These forward-looking statements are
necessarily estimates reflecting the best judgment of SMIC's senior management
and involve significant risks, both known and unknown, uncertainties and other
factors that may cause SMIC's actual performance, financial condition or
results of operations to be materially different from those suggested by the
forward-looking statements.
Investors should consider the information contained in SMIC's filings with
the U.S. Securities and Exchange Commission (SEC), including its annual report
on 20-F filed with the SEC on June 29, 2010, especially in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition and Results
of Operations" sections, and such other documents that SMIC may file with the
SEC or The Hong Kong Stock Exchange Limited ("SEHK") from time to time,
including on Form 6-K. Other unknown or unpredictable factors also could have
material adverse effects on SMIC's future results, performance or achievements.
In light of these risks, uncertainties, assumptions and factors, the
forward-looking events discussed in this press release may not occur. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date stated, or if no date is stated, as of the
date of this press release. Except as required by law, SMIC undertakes no
obligation and does not intend to update any forward-looking statement,
whether as a result of new information, future events or otherwise.
For more information, please contact:
Mr. Peter Lin
Public Relations
Tel: +86-21-3861-0000 x12349
Email: Peter_LHH@smics.com
Ms Angela Miao
Public Relations
Tel: +86-21-3861-0000 x10088
Email: Angela_Miao@smics.com
SOURCE Semiconductor Manufacturing International Corporation
Semiconductor Manufacturing International Corporation
CONTACT: Peter Lin, Public Relations, +86-21-3861-0000 x12349, Peter_LHH@smics.com, or Angela Miao, Public Relations, +86-21-3861-0000 x10088, Angela_Miao@smics.com
Web Site: http://www.smics.com
Writing a New Chapter in Scientific Development
WUHAN, China, Oct. 28 /PRNewswire-Asia/ -- The Wuhan East Lake Hi-Tech
Development Zone Administrative Committee and Semiconductor Manufacturing
International Corporation ("SMIC," NYSE: SMI, SEHK: 0981.HK) today signed a
cooperation framework agreement in Wuhan's East Lake Hotel in which both
parties agreed to cooperate and jointly invest in the 12-inch wafer production
facilities of Wuhan Xinxin Semiconductor Manufacturing Corporation (Wuhan
Xinxin) through cash injection.
The official signing ceremony was attended by the President of the Chinese
Academy of Engineering Zhou Ji; officials from the National Development and
Reform Commission, China Development Bank, and Hubei Province; Wuhan City
Party Secretary Yang Song; Wuhan Mayor Ruan Chengfa; SMIC Chairman Jiang
Shangzhou; SMIC President and C.E.O. David N.K. Wang; and others.
SMIC began its cooperation with Wuhan City in early 2006 when its
government funded and constructed Wuhan Xinxin and engaged SMIC to manage it.
Wuhan Xinxin commenced production in September 2008, with its fab construction
and operations meeting global industry standards. The signing of this new
agreement strengthens the commitment between SMIC's new management team and
the Wuhan government to move towards greater expansion and development.
The cooperation framework agreement proposes a possible joint venture
driven by corporate responsibility and profitability, which will focus on
65-40 nanometer integrated circuits with a goal of achieving a production
capacity of 45,000 wafers per month within three years of its establishment.
Capacity planning for this new phase will be consistent with industry
standards for profitable development, with products and technology driven by
market demand.
This cooperation will benefit both parties and serve as a strategic
component in SMIC's expansion plan over the next five years. It also will
become a key contributor to the Chinese and global semiconductor industries,
as a reliable platform for high-end chip manufacturing.
Through this agreement, SMIC and Wuhan City will collaborate extensively
in areas such as talent development, chip design, and supply chain improvement,
to promote the economic development of Wuhan's "Optics Valley" and upgrade
Hubei Province's information & technology industry. As East Lake High-tech
Zone is developing its strategy to build the "National Innovation Model Area"
and "China Optical Valley," this cooperation will become an innovation engine
to drive their development.
About SMIC
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI;
SEHK: 981) is one of the leading semiconductor foundries in the world and the
largest and most advanced foundry in Mainland China, providing integrated
circuit (IC) foundry and technology services at 0.35-micron to 45/40-nanometer.
Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility
(fab) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer
fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, a 200mm fab under
construction in Shenzhen, and an in-house assembly and testing facility in
Chengdu. SMIC also has customer service and marketing offices in the U.S.,
Europe, and Japan, and a representative office in Hong Kong. In addition,
SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin
Semiconductor Manufacturing Corporation.
For more information, please visit http://www.smics.com .
Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of 1995) This press release contains, in addition to historical information,
"forward-looking statements" within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including statements regarding the expected
benefits of the cooperation, are based on SMIC's current assumptions,
expectations and projections about future events. SMIC uses words like
"believe," "anticipate," "intend," "estimate," "expect," "project" and similar
expressions to identify forward-looking statements, although not all forward-
looking statements contain these words. These forward-looking statements are
necessarily estimates reflecting the best judgment of SMIC's senior management
and involve significant risks, both known and unknown, uncertainties and other
factors that may cause SMIC's actual performance, financial condition or
results of operations to be materially different from those suggested by the
forward-looking statements.
Investors should consider the information contained in SMIC's filings with
the U.S. Securities and Exchange Commission (SEC), including its annual report
on 20-F filed with the SEC on June 29, 2010, especially in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition and Results
of Operations" sections, and such other documents that SMIC may file with the
SEC or The Hong Kong Stock Exchange Limited ("SEHK") from time to time,
including on Form 6-K. Other unknown or unpredictable factors also could have
material adverse effects on SMIC's future results, performance or achievements.
In light of these risks, uncertainties, assumptions and factors, the
forward-looking events discussed in this press release may not occur. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date stated, or if no date is stated, as of the
date of this press release. Except as required by law, SMIC undertakes no
obligation and does not intend to update any forward-looking statement,
whether as a result of new information, future events or otherwise.
For more information, please contact:
Mr. Peter Lin
Public Relations
Tel: +86-21-3861-0000 x12349
Email: Peter_LHH@smics.com
Ms Angela Miao
Public Relations
Tel: +86-21-3861-0000 x10088
Email: Angela_Miao@smics.com
SOURCE Semiconductor Manufacturing International Corporation
Semiconductor Manufacturing International Corporation
CONTACT: Peter Lin, Public Relations, +86-21-3861-0000 x12349, Peter_LHH@smics.com, or Angela Miao, Public Relations, +86-21-3861-0000 x10088, Angela_Miao@smics.com
Web Site: http://www.smics.com