As 2004 came to a close, concern within the industry focused on the softening of IC global demand and the growing threat of over-capacity that could trigger another downturn. Taking a rough cut of end of year market analyst's projections it would seem we are heading for a static or at best low digit figure growth in 2005. In stark contrast to this softening business environment, 300mm fab activity has set a record pace in 2004 and perhaps even more surprisingly, 2005 looks set to be the break the 2004 record. We track all the major movements for this quarter and provide insight into the 2005 big build, as well as providing updates to capacity ramp rates within 300mm fabs around the world. 300mm activity report: October to December 2004