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GlobalFoundries Says Neither the Company Nor Its Fab 7 Are Up for Sale

http://www.businesskorea.co.kr, Mar. 14, 2019 – 

GlobalFoundries (GF) said on March 14 that neither the company itself nor its Fab 7 in Singapore are put up for sale.

In a statement, the world's third largest semiconductor foundry said, "Rumors and speculation about the sale of GlobalFoundries' Fab 7 in Singapore are false. Fab 7 is not for sale and neither is GF."

The statement noted that the company is celebrating its 10th year anniversary this year. "We are seeing strong momentum and demand for our technologies from our customers and have excellent support from our ecosystem partners and the industry. Our financial position is solid and we continue to have strong support from our investors in Abu Dhabi."

The company said it sold its Fab 3E facility to Vanguard as part of its ongoing focus on investing in technologies where it can deliver the most value to its customers. Fab 3E, it said, was a remote site in Tampines, outside of the rest of the GF facility in Woodlands with a small percentage of employees. "The sale allows us to streamline our global manufacturing footprint and increase our focus in Singapore on technologies where we have clear differentiation such as RF, embedded memory and advanced analog features," the statement said. "Consolidating our 200mm operations in Singapore into one campus will also help reduce our operating costs by leveraging the scale of our Gigafab facility in Woodlands."

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