News Column

Jiangsu Changjiang Plans to Form JV with SMIC

February 20, 2014

JIANGSU, February 20, SinoCast -- Jiangsu Changjiang Electronics Technology Co., Ltd. (SHSE: 600584) revealed plans to form a JV with Semiconductor Manufacturing International Corporation (SMIC, NYSE: SMI, SEHK: 0981) with 12-inch bumping and test capacity.

The JV has registered capital of USD 50 million, including 49% and 51% from both sides, both in cash.

Meanwhile, Jiangsu Changjiang planned to set up a wholly owned subsidiary nearby location for the JV, together with SMIC to offer top-flight customers home and abroad one-stop service covering whole industrial chains from chip manufacturing to test and package.

The wholly owned subsidiary has registered capital of CNY 200 million, which will come from Jiangsu Changjiang in cash in phases.

For more stories covering the world of technology, please see HispanicBusiness' Tech Channel

Source: Sinocast Computers & Electronics Beat (China)

Story Tools