Glofo invests $1.4 billion to raise output

Stefan Mileschin · 4th March 2021, 14:19

Cash spent at three plants

GlobalFoundries will invest $1.4 billion this year to raise output at three factories in the United States, Singapore and Germany.

The move is supposed to help the global shortage of semiconductors and is part of a package of ideas to step up production in the long term. GloFo might bring forward its initial public offering to late 2021 or the first half of next year, from a previous target of late 2022 or early 2023.

It is aiming for revenue growth of nine to ten percent from just over $5.7 billion last year.

Automakers and electronics producers are facing a global shortage of chips which has fuelled manufacturing delays.

"The adoption of technology that would normally have taken a decade happened in one year in 2020 because of COVID-19", GlobalFoundries CEO Thomas Caulfield told Reuters.

https://fudzilla.com/news/52452-glof...o-raise-output

4th March 2021, 14:19	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,769	Glofo invests $1.4 billion to raise output Cash spent at three plants GlobalFoundries will invest $1.4 billion this year to raise output at three factories in the United States, Singapore and Germany. The move is supposed to help the global shortage of semiconductors and is part of a package of ideas to step up production in the long term. GloFo might bring forward its initial public offering to late 2021 or the first half of next year, from a previous target of late 2022 or early 2023. It is aiming for revenue growth of nine to ten percent from just over $5.7 billion last year. Automakers and electronics producers are facing a global shortage of chips which has fuelled manufacturing delays. "The adoption of technology that would normally have taken a decade happened in one year in 2020 because of COVID-19", GlobalFoundries CEO Thomas Caulfield told Reuters. https://fudzilla.com/news/52452-glof...o-raise-output

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