Tuesday, June 1, 2010
Advanced Technology Investment Co. (ATIC), the Abu Dhabi government-owned investment vehicle behind foundry chip maker GlobalFoundries Inc. (Sunnyvale, Calif.), has announced it plans to create an "advanced technology cluster" in Abu Dhabi.
The site is set to include chip and other forms of manufacturing by multiple companies but is unlikely to include GlobalFoundries in the near term.
GlobalFoundries said it would put a manufacturing presence there eventually. Over the next couple of years GlobalFoundries is committed to expanding manufacturing at its wafer fabs in Dresden, Singapore and New York.
The ATIC "advanced technology cluster" site, measuring three square kilometers in size, is adjacent to Abu Dhabi International Airport. GlobalFoundries, which has wafer fabs in Dresden, Germany and Singapore and another fab under construction in New York State, said it is "committed to partnering with ATIC to share best practices and expertise in cluster creation in the near-term and putting a significant technology and manufacturing presence in the region long term."
The goal for the site is to be the Middle Eastern hub of a global technology and manufacturing network to support the long-term deployment of capital for ATIC portfolio companies. However, ATIC did not indicate what steps it would take to attract other companies to the site or what it was prepared to spend to build out infrastructure there. Nor did ATIC provide a timetable for when companies would be established on site.
"The formation of the new GlobalFoundries was predicated on creating a world-class technology and manufacturing company that had the scale and resources to compete for industry leadership in this capital intensive market," said Ibrahim Ajami, chief executive officer of ATIC, in a statement issued by GlobalFoundries. "For ATIC, this also represented the first step in Abu Dhabi's vision to become a leader in the semiconductor industry. Today we announce the next phase as we take our first steps in establishing a world-class advanced technology cluster over the coming years. We look forward to working with the GlobalFoundries team to leverage the collective successes of Singapore, Dresden and New York as we create the industry's next innovation cluster in Abu Dhabi."
By: DocMemory
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