SMIC to Amusement equipment spin off solar cell and chip businesses
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SMIC to spin off solar cell and chip businessesPublished: 20 Mar 2009 00:48:22 PST
Mar. 20, 2009 (China Knowledge) - Semiconductor Manufacturing International Corp (SMIC)<981> plans to spin off its solar cell business and its chip packaging and testing businesses, sources reported.

SMIC President and CEO Richard Ru Gin Chang said SMIC hopes to launch IPOs for the two new units in the next one to three years in the overseas market.

Previously, Taiwan's Commerical Times newspaper reported that SMIC will add new production lines in Shanghai as for business expansion. Its two existing solar cell production lines in Shanghai have a combined production capacity of 33 MW.

The newspaper said that SMIC will combine packaging and testing operations in Chengdu and Shanghai and to seek foreign investors. The listing plan will be applicable if the unit can achieve profitability in 2009, the newspaper added.



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