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Exclusive: Globalfoundries eyes future IPO
Peter Clarke
11/15/2012 8:51 PM EST
First wafers
In his presentation from Abu Dhabi, Manocha emphasized Globalfoundries' strong growth and advanced production achievements. The company became the No. 2 foundry in 4Q11 and earned about 40 percent of its revenue from process technologies with geometries smaller than 45 nm.
Globalfoundries is also planning to introduce a FinFET-based manufacturing process technology called 14XM just one year after it ramps a planar CMOS 20-nm process technology in 2013. Manocha also highlighted the completion of the first stage of Fab 8, a $5 billion wafer fab in Malta, N.Y., which is scheduled to produce its first commercial wafers by the end of this year or early in 2013.
Asked about construction of the Abu Dhabi fab, Noonen replied: "The purpose of Mubadala has not changed. A healthy Globalfoundries is good for everyone involved. Globalfoundries already has a presence in Abu Dhabi. We're looking forward to making the most of the global part of Globalfoundries."
ATIC is thought to have committed about $12 billion to the Globalfoundries project so far, including about $5 billion acquiring the manufacturing assets of Advanced Micro Devices Inc. in Dresden, Germany, and of Chartered Semiconductor Manufacturing in Singapore. Globalfoundries' capital expenditure was more than $5 billion in 2011, partly due to construction of Fab 8. Manocha said planned capex for 2012 is about $3 billion. Globalfoundries capex is also expected to be about $3 billion in 2013.
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In his presentation from Abu Dhabi, Manocha emphasized Globalfoundries' strong growth and advanced production achievements. The company became the No. 2 foundry in 4Q11 and earned about 40 percent of its revenue from process technologies with geometries smaller than 45 nm.
Globalfoundries is also planning to introduce a FinFET-based manufacturing process technology called 14XM just one year after it ramps a planar CMOS 20-nm process technology in 2013. Manocha also highlighted the completion of the first stage of Fab 8, a $5 billion wafer fab in Malta, N.Y., which is scheduled to produce its first commercial wafers by the end of this year or early in 2013.
Asked about construction of the Abu Dhabi fab, Noonen replied: "The purpose of Mubadala has not changed. A healthy Globalfoundries is good for everyone involved. Globalfoundries already has a presence in Abu Dhabi. We're looking forward to making the most of the global part of Globalfoundries."
ATIC is thought to have committed about $12 billion to the Globalfoundries project so far, including about $5 billion acquiring the manufacturing assets of Advanced Micro Devices Inc. in Dresden, Germany, and of Chartered Semiconductor Manufacturing in Singapore. Globalfoundries' capital expenditure was more than $5 billion in 2011, partly due to construction of Fab 8. Manocha said planned capex for 2012 is about $3 billion. Globalfoundries capex is also expected to be about $3 billion in 2013.
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yalanand
11/15/2012 10:30 PM EST
@Peter, will the shares be listed in US ? Any idea When this IPO will be released to the market ?
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peter.clarke
11/16/2012 5:05 AM EST
@yalanland
I think the U.S. is the natural place for a technology company to list.
It is very hard to get an IPO away unless there is a good track record of profitability and good prospects going forward.
So, as Noonen said, the first thing is to be profitable.
It looks like Mubadla/ATIC is trying to set a realistic goal of profitable by 2015 -- otherwise why mention the date.
So I should say an IPO is unlikely much before then.
But if GF is profitable in 2013 and racks up several profitable quarters why not stage the IPO in 2014?
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yalanand
11/16/2012 10:00 PM EST
@peter thanks for the reply. Do you think emergance of GF will have an impact on TSMC ? Are they both competing in the same node ?
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HS_SemiPro
11/16/2012 1:22 AM EST
Global foundries advanced tech fabs in US and Germany makes its decent alternative for US and Europe markets, specially when it has access to IBM, SAmsung JDA tech & R&D.
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nicolas.mokhoff
11/16/2012 6:57 AM EST
GlobalFoundries is a rare hit in the chip industry, as it should be with all the investments poured into it, and with the leadership it has nourished. Manocha made our list of EE Times 40th anniversary future innovators: http://www.nxtbook.com/nxtbooks/cmp/eetimes110512/#/50
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rick.merritt
11/16/2012 11:44 AM EST
I think it's pretty widely understood the electronics industry is hungry for one or more strong alternatives to TSMC and that's part of the juice fueling GloFo.
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yalanand
11/16/2012 10:02 PM EST
@rick.merritt, true. Unfortunately companies like UMC lost out on compeitition. I wish UMC had given more competition to TSMC else monopoly will greatly benefit TSMC.
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m00nshine
11/17/2012 8:33 AM EST
Any insight into Deloitte's "Project Azalea" the not-so-secret site selection for another wafer fab in the Albany, NY area? I guess it's not for GloFo since their exist NY site should fit multiple fab and AbuDabi fab is next and on hold...
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RobinHoo
11/17/2012 2:34 PM EST
Penny stock likes Chartered again
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