US rubberstamps AMD manufacturing spin-off
PrintCFIUS OKs AMD-ATIC TFC
Posted in PCs & Chips, 7th January 2009 18:16 GMT
Free whitepaper – Reliability analysis of the APC Symmetra MW Power System
AMD's Abu Dhabi-funded manufacturing spin-off has been rubberstamped by the US Treasury Department.
On Tuesday, the Committee on Foreign Investment in the United States (CFIUS) gave the go-ahead to The Foundry Company, a semiconductor manufacturing joint venture cooked up by AMD and an investment arm of the Abu Dhabi government.
According to statement from AMD and Abu Dhabi's Advanced Technology Investment Company (ATIC), the CFIUS has also said that a proposed investment in AMD by the Mubadala Development Company - a public joint stock company headquartered in Abu Dhabi, the capital of the United Arab Emirates - does not require its approval.
AMD first announced its manufacturing spin-off in October, and in December, after its shares continued to nose dive, the struggling chipmaker agreed to a smaller stake in the joint venture. AMD will now own 34.2 per cent of The Foundry Company (down from the original 44.4 per cent) and ATIC will control 65.8 per cent.
Both companies, however, will maintain equal voting rights.
The Foundry Company will run a refurbished fab in Dresden Germany and build a new one in Saratoga County, New York. ®
Free whitepaper – Deploying high-density zones in a low-density data center
Analyst Keynote: The Register Agile Data Center Summit
Managing desktop software for fun and profit
Seven ways to lower storage costs
Dell PowerEdge M710 with Dell EqualLogic storage vs. HP ProLiant BL685c with HP StorageWorks EVA 4400
Analyst Keynote: The Register Agile Data Center Summit
HP shoots low with Lynnfield ProLiants
VMware virtually crashes Windows 7 desktop party
zPrime cost-cutting mainframeware gets traction
Delays, password problems hit UK2 email restore