SHANGHAI, March 16, 2011 -- Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 0981.HK) today released the following statement:
Gary Tseng, Chief Financial Officer, said: "Based on our current five year business expansion plan to become a US$5 billion foundry, SMIC would need to spend approximately US$12 billion to increase its manufacturing capacity during the next several years. The majority of such funding would come from internally generated cash. The remaining funds may come from long term bank loans, and/or outside equity investment. Please note that this is just a plan based on the Company's position today, and the actual amount to be spent on capital expansion may vary based, among other things, on market conditions, the Company's business plans and customer needs."
Investors and shareholders of the Company should be aware that, to date, no definitive agreement which would require disclosure under the Listing Rules has been entered into by the Company in relation to these financing plans and such plans therefore may or may not proceed. The Company will comply with its obligations under the Listing Rules as and when required. Investors and shareholders of the Company are therefore advised to exercise caution when dealing in the shares of Company.
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) foundry and technology services at 0.35-micron to 45/40-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, and a 200mm fab in Shenzhen. SMIC also has customer service and marketing offices in the North America, Taiwan, Europe, and Japan regions, and a representative office in Hong Kong. In addition, SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation.