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Grace Semiconductor gets new investment |
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Feb 04, 2005 at 09:00 PM |
Grace Semiconductor Manufacturing Corporation ("Grace") has announced
investment agreements with Cheung Kong (Holdings) Limited and Hutchison
Whampoa Limited in which the two will subscribe shares in Grace
totaling US$90 million. The proceeds from this subscription will be
applied towards the purchase of additional equipment, as well as
towards the research and development of leading edge semiconductor
process technology.
"Grace Semiconductor demonstrates a tremendous potential for growth,"
stated Mr. Han Zheng, the mayor of Shanghai. "The city is excited to
have two of Hong Kong's most prestigious companies supporting what is
sure to become one of the top semiconductor manufacturing companies in
the world. More importantly, this collaboration serves as further
evidence of the mutually beneficial relationship between Hong Kong and
Shanghai."
Mr. Dong Yeshun, President of Grace and Executive Vice President of
Shanghai Alliance Investment Limited, also welcomes this latest
investment. "We are very excited by this latest investment from the two
most accomplished and prestigious companies in Hong Kong today. Given
their investment experience in the Chinese telecommunications and
information technology sectors, their expectation that Grace will
become one of China's leading semiconductor foundries represents a
substantial endorsement of the farsighted nature of our business
strategies." he said.
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