Grace Semiconductor Manufacturing Corp. has secured an additional $90 million in funding from Cheung Kong Holdings Ltd. and Hutchison Whampoa Ltd. in Hong Kong.

The two investing companies are both headed by Li Ka-shing, who, with a net worth of about $12.4 billion, is known as Asia's richest and most influential businessman.  Li's empire is known for diversity; the 75-year-old has his fingers in several verticals, including telecom, real estate and retail.

The fund will be planned for additional equipment and R&D. The company expects to make 33,000 eight-inch wafers per month in the first half of 2005 from the current 23,000 wafers now. The foundry further expects development to result in 0.13-micron copper production capabilities in late 2005.

By: DocMemory
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