19 Apr '17, 7pm

NXP Sells Stake in China Foundry ASMC

SAN FRANCISCO—NXP Semiconductors NV said Wednesday (April 19) it sold its 27 percent remaining stake in Advanced Semiconductor Manufacturing Corp. Ltd. (ASMC), a chip foundry based in China. ASMC began as a joint venture in the late 1980s between the Chinese Government and Royal Philips Electronics NV , the Dutch giant that eventually spun off NXP. ASMC, originally known as Philips Semiconductor Shanghai, exclusively made chips for Philips for years. It has two 8-inch wafer fabs in Shanghai. NXP (Eindhovern, the Netherlands) said it sold its 421.45 million shares, representing 27.47 percent ownership of ASMIC, for $53.7 million to Shanghai Pudong Science and Technology Investment Co. Ltd. NXP is in the process of being acquired by U.S. chip giant Qualcomm Inc., a fabless company that relies solely on foundries for manufacturing of its chips. The divestiture of NXP's stake ...

Full article: http://www.eetimes.com/document.asp?doc_id=1331618&_mc=RS...

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