Tuesday, November 19, 2019
GlobalFoundries Says Neither the Company Nor Its Fab 7 Are Up for Sale
Dismissing Reports on Fab 7 Sale as Rumors
GlobalFoundries Says Neither the Company Nor Its Fab 7 Are Up for Sale
  • By Kim Eun-jin
  • March 14, 2019, 17:40
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GlobalFoundries (GF) said neither the company itself nor its Fab 7 in Singapore are put up for sale.

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.”

Referring to a recent visit to Korea by the Abu Dhabi crown prince, Sheikh Mohammed bin Zayed Al Nahyan, the statement said this trip was part of a broader regional tour to strengthen bilateral and economic collaboration between the UAE and a number of Asian countries.

Following the visit to Korea, the crown prince, who is chairman of Mubadala Investment Co. (MIC), GF’s 100 percent shareholder, and Khaldoon Khalifa Al Mubarak, CEO and managing director of MIC, visited Singapore and met with GF executives and toured its manufacturing facilities there.

Following the visit, Khaldoon Al Mubarak officially commented: “The technologies manufactured here in Singapore are enabling a new era of innovation in a world that now has billions of connected devices. With its focused and inspirational leadership and a clear strategy for value creation, GlobalFoundries continues to be an integral part of Mubadala’s portfolio.”