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SMIC ups fourth quarter capital spending but pegs 2008 at $700 million |
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Jan 29, 2008 at 06:07 PM |
 SMIC said capital spending for the fourth quarter was $260 million, up from the third quarter $139 million the company spent and significantly above its previous fourth quarter guidance of between $60 million to $90 million.
Dr. Richard Chang, Chief Executive Officer of SMIC, said in a financial statement that the increase was due in part to the announced 45nm bulk CMOS process license with IBM recently and the ordering of specific tools for 45nm logic production. ''Our capital expenditure in the fourth quarter increased to $260 million, due in part to investment in the 45-nanometer technology project,” noted Chang. “We expect our CAPEX to be around $700 million in 2008 as we continue to invest in the development of advanced technology nodes and continue the planned conversion of DRAM capacity to logic in our Beijing fabrication facility.” SMIC said that capital spending for 2008 would be approximately $700 million, the same as in 2007.
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