Originally Posted by revro
so sheiks from global foundry get 1.5bil usd to close down the factories, while ibm gets to hold onto its good name ... but thats usuall modus operandi for western corporations
GlobalFoundries is getting a pre-built Fab 9 for $1.5 billion, rather than spending $6 to $8 billion.
Back in May 2011 it was reported that Globalfoundries (Milpitas, Calif.) was planning to spend between $6 billion and $8 billion building a wafer fab in Abu Dhabi with groundbreaking to take place in 2012 and chip production scheduled to start in 2015.
"We have no plans for layoffs or shutting the fabs down in any way," GlobalFoundries chief executive officer Sanjay Jha said. "That is our commitment."
Jha, speaking in a telephone news conference Monday morning, said GlobalFoundries would maintain both of the IBM chip plants, known as fabs, and the employees it acquired in Essex Junction and East Fishkill, N.Y.
Jha added that IBM Burlington's fab in particular, with its industry-leading chips for cell phones and other devices, will help GlobalFoundries become a leader in the business.
I do hope they do a name change.
East Fishkill -> Fab 10
Essex Junction -> Fab 11
As part of this Agreement, GLOBALFOUNDRIES will gain substantial intellectual property including thousands of patents, making GLOBALFOUNDRIES the holder of one of the largest semiconductor patent portfolios in the world. GLOBALFOUNDRIES also will benefit from an influx of one of the best technical teams in the semiconductor industry, which will solidify its path to advanced process geometries at 10nm and below. Additionally, the acquisition opens up business opportunities in industry-leading radio frequency (RF) and specialty technologies and ASIC design capabilities.
Patents included, GlobalFoundries will be getting ahead and probably hitting that 2015 profitability mark.Edited by Seronx - 10/20/14 at 7:05pm