Newly integrated GlobalFoundries to rival TSMC
Singapore – GlobalFoundries could prove a serious rival to TSMC now that it has officially integrated operations with Chartered Semiconductor Manufacturing.
GlobalFoundries, which now has operations spanning Asia, Europe and the US said it was targeting double digit revenue growth this year and boosting capacity 2.5 times by 2014.
Chartered was acquired late last year for US$3.9 billion by Abu Dhabi investment firm ATIC which owns GlobalFoundries. With the integration, Chartered will be operating under the GlobalFoundries brand and will create a full-service semiconductor foundry with a global manufacturing and technology footprint across Asia, Europe and the US.
"Thanks to the vision of our investors and months of dedicated work by teams across the globe, we have now created a new global company that leads the foundry market in advanced technology with unparalleled proximity to our customers and access to the world's best talent," said Doug Grose, CEO of GlobalFoundries in a statement.
The new entity is viewed by analysts as a strong contender in the highly competitive semiconductor sector which is currently dominated by Taiwan-based TSMC. The companies' combined revenues for 2009 are in excess of US$2 billion, GlobalFoundries said.
"The entire premise of the foundry business is changing," said Dan Hutcheson, CEO of VLSI Research. "Foundry customers have made it clear that they are looking for deep collaboration with their foundry partners as opposed to a contract manufacturing service. With its history as part of a top Integrated Device Manufacturer (IDM) operating at the leading edge of technology, GlobalFoundries is well positioned to drive fundamental transformation in the foundry business model."
GlobalFoundries has plans to expand its Fab 1 in Dresden and Fab 7 in Singapore, as well as construct a new 300m facility in Saratoga County, New York. With these plans, global capacity is expected to expand to 1.6 million 300mm wafers annually by 2014, the company said.
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