ON Semiconductor to Build 6-Inch Wafer Fabrication Plant in China
ON Semiconductor (Phoenix, AZ) has announced that it will build a 6-inch wafer fabrication plant at Leshan-Phoenix Semiconductor Co. Ltd., its Chinese joint venture. The company will sign a memorandum of understanding to invest $100 million for the wafer fabrication plant. Total approved investment before the planned investment in Leshan-Phoenix is $280 million.
“China is forecast to become the third-largest semiconductor market in the world within the next two to three years, and the second largest within 10 years," said Steve Hanson, ON Semiconductor's president and CEO. “Our focus on power management and broadband integrated circuits, together with standard semiconductors, is a perfect match with China's strength in consumer electronics, wireless and computing industries, and its fast-expanding telecommunications infrastructure." Hanson added that China's entry to the World Trade Organization will open a new era of opportunity for the country's fast-growing semiconductor industry.