LFoundry announces that it has entered into a binding agreement for the sale of 100% of the shares to Jiangsu CAS-IGBT Technology
LFoundry announces that it has entered into a binding agreement for the sale of 100% of the shares to Jiangsu CAS-IGBT Technology
Avezzano (AQ, Itay), March 31, 2019. LFoundry Srl and SMIC (Semiconductor Manufacturing International Corporation) today announce that they have entered into a binding agreement for which 100% of the shares of LFoundry are sold to Jiangsu CAS-IGBT Technology Co., Ltd.
Jiangsu CAS-IGBT Technology Co., Ltd. is a group operating in the High-Tech sector. The company is focusing on the research, design and development of new power and electronic chips such as IGBT (Insulated Gate Bipolar Transistor) and FRD (Fast Recovery Diode).
"We are setting the stage for a new era and we are satisfied with it" said Sergio Galbiati and Guenther Ernst, respectively Vice-Chairman and CEO of LFoundry. “The technological and production capacity of the Avezzano plant (specially focused on the automotive sector, but also on security and industrial field with applications such as CMOS image sensors, smart power, embedded memory and others) will provide Jiangsu CAS-IGBT a unique platform from which to grow existing and new Lines of Businesses that will allow for the potential of a brighter future in Avezzano by serving a more diverse set of applications".
The agreement signed today is the first step towards the formal acquisition, whose finalization is scheduled for the end of June.
Further information regarding the agreement is available on the SMIC website at this link
http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0331/LTN20190331171.pdf
Starting next week there will be meetings in the company between management and employees.
About LFoundry
LFoundry, a SMIC company, is a leading specialized foundry. From the heart of ancient Europe, with the Headquarter in Avezzano (Italy), LFoundry is focused on providing access to most advanced analogue manufacturing service with a capacity of >40,000 wafers/month, innovative technology extensions, including volume 90nm and copper manufacturing, a strong emphasis on flexibility and customer partnership. LFoundry is supporting own technology IP for 150nm and 110nm with a large portfolio of process-proven libraries, IP, design tools and reference flows. LFoundry’s key focus is primarily in automotive and industrial related applications including CIS, security, smart power, embedded memory, and others
As a SMIC Company, LFoundry can leverage skills and capabilities of one of the leading semiconductor foundries in the world and the largest and most advanced foundry in mainland China
About Jangsu CAS-IGBT Technology Co., Ltd.
Jiangsu CAS-IGBT Technology Co., Ltd. is a sino-foreign joint venture high-tech enterprise focusing on the research and development of new power and electronic chips such as Insulated Gate Bipolar Transistor (IGBT) and Fast Recovery Diode (FRD).
About SMIC
SMIC (Semiconductor Manufacturing International Corporation) is one of the leading foundries in the world, is Mainland China’s largest foundry in scale, broadest in technology coverage, and most comprehensive in semiconductor manufacturing services. The Company provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, the Company has an international manufacturing and service base. In China, the Company has a 300mm
wafer fabrication facility (fab) and a 200mm fab in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy the Company has a majority-owned 200mm fab. The Company also has marketing and customer service offices in the U.S., Europe, Japan and Taiwan, and a representative office in Hong Kong.