Mubadala Development Company intends to increase investment in financially-stronger AMD, which is simultaneously unlocking the value of its manufacturing assets.
Oct. 7, 2008 -- AMD and the Advanced Technology Investment Company today announced the intention to create a new global enterprise, The Foundry Company, to address the growing global demand for independent, leading-edge semiconductor manufacturing. There is a strong shift to foundries occurring – particularly to foundries with the capacity to produce devices using leading-edge process technologies. With The Foundry Company, AMD will be able to unlock the value of its world-class manufacturing capability – by making it available to a growing community of fabless semiconductor companies.
The Foundry Company: A U.S. Headquartered Global Enterprise
The Foundry Company will begin with key strengths needed to build a successful leading-edge manufacturing company: a history of manufacturing excellence through AMD, committed capital, talented workforce and intellectual capital, and a strong, long-term technology partnership with IBM.
To scale capacity, The Foundry Company intends to proceed with a planned capacity expansion in Dresden, Germany. In addition, the company plans, subject to the transfer of previously approved New York State incentives, to begin construction on a new state-of-the-art facility in Saratoga County, New York, creating more than 1,465 highly-skilled, advanced manufacturing jobs and stimulating the creation of thousands more local jobs. Once operational, the New York facility will be the only independently-managed leading-edge semiconductor manufacturing foundry in the United States.
AMD Delivers on Asset Smart to Become Financially Stronger and More Focused on Design and Development
With The Foundry Company, AMD will unlock the value of its manufacturing excellence to emerge financially stronger and more focused on the design and development of the next generation of innovation based on the Fusion of computing and graphics processing. AMD is the only company in the world with a proven track-record of innovation in both x86 CPU and graphics technologies. Upon closing of this transaction, AMD will be able to direct the company’s intellectual energy to helping customers create differentiation and value.
About ATIC
The Advanced Technology Investment Company (ATIC) was created in 2008. A technology investment company wholly owned by the Emirate of Abu Dhabi, ATIC is focused on making significant investments in the advanced technology sector, both locally and internationally. Its mandate is to generate returns that deliver long-term benefits to the Emirate of Abu Dhabi.
ATIC seeks to leverage the unique advantages it enjoys as an investor from the Emirate of Abu Dhabi to identify and realize long-term investment opportunities in the highly competitive and capital-intensive advanced technology sector. These advantages include significant and reliable capital, a patient investment philosophy, and a subsequently long-term investment horizon.
About Mubadala
Mubadala Development Company (Mubadala) develops and manages an extensive and economically diverse portfolio of commercial initiatives either independently or in partnership with leading international organizations. Mubadala’s commercial strategy is fundamentally built on long term capital intensive investments that deliver strong financial returns.
The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi. Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.