Avezzano (AQ), June 28, 2019 – The strategy of strengthening the company aimed to play a major role in supplying semiconductor devices and integrated circuits is moving forward.  

A new investor is joining and more are expected to join, thus strengthening the capabilities of LFoundry. This is why SMIC, LFoundry and Jiangsu CAS-IGBT Technology announced today that they entered into the Assignment Agreement for which Jiangsu CAS-IGBT Technology assigns all the rights, benefits, obligations and liabilities related to LFoundry (under the previous agreement signed on 31 March 2019) to Wuxi Xichanweixin Semiconductor CO., LTD.  

Wuxi Xichanweixin Semiconductor is a company incorporated under the laws of the PRC focusing on the design, development and sales of semiconductor devices and integrated circuits. It was being set up over the last three months to enable multiple new investors to participate and is now incorporated/registered for 2Billion RMB. As a result, the obligations and rights of Jiangsu CAS-IGBT Technology are assigned to Wuxi Xichanweixin Semiconductor for completion of the transaction scheduled for July 19, 2019.  

Wuxi Xichanweixin Semiconductor is aimed to use the technological capabilities of Jiangsu CAS-IGBT Technology and LFoundry while developing and producing semiconductor devices and integrated circuits for a wide area of applications.

Further details are available in this link