Power Devices and MEMs Joint-Venture Announced in Shaoxing, China
SMIC, Shaoxing Government, and Shengyang Group together announced today the founding of the Semiconductor Manufacturing Electronics (Shaoxing) Corporation (planned) with joint capital contributions. The signing of the joint venture agreement marks the start of a project to bring the manufacture of MEMS and power devices to Shaoxing.
The Secretary of the Shaoxing Municipal Party Committee, Mr. Ma Weiguang, the Deputy Secretary and Deputy Mayor, Mr. Sheng Yuechun, the Member of the Standing Committee and Secretary General, Mr. Zhong Hongjiang, the Chairman of SMIC, Dr. Zhou Zixue, the Chief Financial Officer of SMIC, Dr. Gao Yonggang, and Senior Vice President of Strategic Development at SMIC, Ms. Ge Hong, attended the signing ceremony.
“Application fields such as Artificial Intelligence, mobile communications, the Internet of Things, automotive electronics, and industrial controls are thriving and growing in pace with the growth of our intelligent society. Specialty MEMS technologies are at the core of the advancement of our industry and society, while the advanced manufacturing base for MEMS and power device chips is still relatively weak in China's domestic semiconductor ecosystem,” according to a statement issued by the founders of the new joint venture.
The investment of this signed joint venture amounts to ¥5.88 Billion RMB. The joint venture will focus on the fields of MEMS and power devices with a wafer and module foundry that will continue to grow and develop with sustained R&D investment. A comprehensive foundry for specialty technologies will be achieved to win leadership in China's domestic market.
The Chairman of SMIC, Dr. Zhou Zixue indicated in his speech, "SMIC has worked on the specialty technologies of MEMS and power devices for almost ten years. This joint venture project with Shaoxing meets our strategic objectives to build an advanced manufacturing industrial cluster in the Yangtze River Delta region. We have confidence that we will create a leading first-class semiconductor corporation focused on specialty technologies."
The Secretary of the Shaoxing Municipal Party Committee, Mr. Ma Weiguang said, "In the 1980s, Shaoxing used to be one of the most important towns for China's IC manufacturing industry. After 40 years the smooth landing of this project will accelerate the transformation and upgrading of the phrase 'Made in Shaoxing' into 'Intelligent Manufacturing in Shaoxing'. Meanwhile, seizing the opportunity to cooperate with SMIC will help to build the IC industry for specialty technologies in Shaoxing and make contributions to Intelligent Manufacturing in China."