The Foundry Company is officially launched by AMD and ATIC

Oct 7 2008, 6:46am CDT | by Luigi Lugmayr

AMD and Advanced Technology Investment Company (ATIC) officially announce the intention to create a new global enterprise, The Foundry Company. As reported earlier AMD is going fabless to cut costs.
The Foundry Company is said to begin with key strengths needed to build a successful leading-edge manufacturing company: a history of manufacturing excellence through AMD, committed capital, talented workforce and intellectual capital, and a strong, long-term technology partnership with IBM.
AMD will contribute to The Foundry Company its manufacturing facilities, including two fabrication facilities in Dresden, Germany, as well as related assets and intellectual property rights. ATIC will invest $2.1 billion to purchase its stake in The Foundry Company, of which it will invest $1.4 billion directly in the new entity and the remainder will be paid to AMD to purchase additional shares in The Foundry Company. The Foundry Company will also assume approximately $1.2 billion of AMD’s existing debt. ATIC has committed additional equity funding to The Foundry Company of a minimum of $3.6 billion and up to $6.0 billion over the next five years to fund the expansion of The Foundry Company’s chip-making capacity beyond the manufacturing facilities initially contributed by AMD.

o scale capacity, The Foundry Company intends to proceed with a planned capacity expansion in Dresden, Germany. In addition, the company plans, subject to the transfer of previously approved New York State incentives, to begin construction on a new state-of-the-art facility in Saratoga County, New York, creating more than 1,465 manufacturing jobs. Once operational, the New York facility will be the only independently-managed leading-edge semiconductor manufacturing foundry in the United States.

About ATIC:
The Advanced Technology Investment Company (ATIC) was created in 2008. A technology investment company wholly owned by the Emirate of Abu Dhabi, ATIC is focused on making significant investments in the advanced technology sector, both locally and internationally. Its mandate is to generate returns that deliver long-term benefits to the Emirate of Abu Dhabi.
More details on the AMD site and on The Foundry Company site.

where to buy

Buy from Amazon

What Others Say about This

Tor tool aims to help Iranians work around internet ban

NEWS The privacy-focused Tor Project is reportedly working on helping Iranians sidestep increased internet restrictions put in place by the country's government on Friday in anticipation of protests. The Iranian government has blocked access to web-based ...
Full article at: ZDNet UK More like this 1 hour ago

Steve Jobs gets posthumous Grammy

NEWS Steve Jobs was posthumously awarded a Grammy Award on Sunday for his contribution to the music industry. The Recording Academy announced in December that the late Apple co-founder would receive one of the organisation's Special Merit Awards for help ...
Full article at: ZDNet UK More like this 1 hour ago

Apple applies for US ban on Samsung's Galaxy Nexus

NEWS Apple has requested a ban on sales in the US of the Samsung Galaxy Nexus smartphone, claiming that the showcase for Google's heavily touted Ice Cream Sandwich version of the Android operating system violates four Apple patents. Apple has claimed tha ...
Full article at: ZDNet UK More like this 1 hour ago

Don't miss ...

Technology News

Solar Powered Clothing: The Future of Mobile Charging...

Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.