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Taiwan Semiconductor Manufacturing (TSMC) Has Filed An Application Regarding

Taiwan Semiconductor Manufacturing (TSMC) has filed an application regarding plans for a fab investment project in Mainland China. The application was filed with the Investment Committee of Taiwan's Ministry of Economic Affairs. After obtaining government approval, the company plans to establish a 100% wholly-owned subsidiary in Mainland China, for the purpose of building a 200mm fab in the Songjiang Science Park in Shanghai and to provide foundry services in Mainland China.
Dr Morris Chang, TSMC chairman, sees business opportunities presented by the
emerging and potentially immense IC market in the region. TSMC believes that
it would be very difficult to effectively claim market share in Mainland
China unless it offers a direct, local foundry service.
The company says it has already fulfilled the Taiwan government's
requirement to provide volume production of 300mm wafers within Taiwan
itself before filing its investment plan for Mainland China.
The new company listed in the investment project is temporarily named "TSMC
(Shanghai) Corporation". The investment project is scheduled to be completed
in four years, with a total investment of $898mn. Of this, $842mn will be
used for the purchase, transportation and installation of machinery and
equipment. After the investment project is completed, TSMC (Shanghai)
Corporation will then have a payroll of 1000 employees and a 200mm fab with
a monthly capacity of 35,000 wafers using 0.25micron or older process
technologies to provide foundry services to the Mainland market.
TSMC will send 100 staff members from Taiwan to smooth the initial
operations of the Mainland company. The majority of the new company's
operating staff will be gradually recruited locally.
Apart from facilities in Taiwan, the company operates fabs in the USA and
Singapore. TSMC has 15,000 employees in Taiwan and expects this to grow to
20,000 over the next four years in the process of staffing its 300mm
facilities.

Less positive news from TSMC was that the Taiwan foundry is planning to put
off purchases of 300mm equipment by up to six months. Analysts estimate that
production cuts at the foundry will hit spending by at least $300mn.

Optical network component producer LIGHTCONNECT has raised $9mn in a third
financing round led by Sevin Rosen Funds. Other participating investors
include Incubic, Morgenthaler, US Trust, US Venture Partners and Optical
Capital Group. The money will be used to expand LIGHTCONNECT's product
portfolio, based on its MEMS technology, and for US domestic and
international expansion through increased sales and marketing. The company's
products include variable optical attenuators, dynamic gain equalisers and
dynamic channel equalisers.

Aixtron group has opened a service office in Shanghai, China. This will
support the company's entire product range, which includes Aixtron AG,
Thomas Swan Scientific Equipment and Epigress AB CVD systems.

European processing equipment producer EV Group (EVG) is to start direct
operations in Taiwan in October under a newly formed joint venture company
EVG-Jointech. The company has been created out of the successful former
regional team with members from EVG and a representative company for EVG
equipment in Taiwan.

Honeywell Electronic Materials (HEM) has set up a 450m2 "Star Center" in
Singapore to develop materials and process integration of its thermal
management and electrical interconnect products. These are used in the
assembly of advanced ball grid array (BGA) and flipchip semiconductor
packages. Some SGD1mn has been invested in the centre and another SGD8mn is
projected over the next five years.
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