AMD's manufacturing spin-off officially named GlobalFoundries

After months of 'The Foundry Company', the new company formed by AMD and Advanced Technology Investment Company (ATIC) finally got an official name and it is GlobalFoundries. With ATIC owning 65.8% and AMD 34.2%, the new manufacturing entity has control over now ex-AMD's Dresden facilities and, in 2012, will have a $4.6 billion chip plant in New York. Headed by CEO Doug Grose, the company has Hector Ruiz as Chairman of the Board and the newly-appointed Jim Doran, Bruce McDougall and Alexie Lee as senior vice president and general manager of Fab 1 (Dresden fab), chief financial officer and vice president and general counsel respectively.

"As our name implies, we’re building a global company that is world class in every respect, from our ownership structure to our technology and physical presence to our management team," said Doug Grose, chief executive officer of GlobalFoundries. "The additions to our team that we’re announcing today represent just that – a global perspective coupled with a wealth of industry experience. The caliber of our people underscores the depth of our commitment to raise the bar in foundry services, creating a climate for innovation across the semiconductor industry."

Let's welcome GlobalFoundries into the chip game and wish it good luck with being up there with the likes of Intel and TSMC.

Source:
Tech Connect

GlobalFoundries, which has chip plants in Dresden, Germany, and plans to build a new plant in New York, will operate as a contract chip maker, with AMD has a principal customer.

AMD will now have to get used to the idea that it will continue to have access to high-end production technology now owned by GlobalFoundries, it could eventually mean less control over these capabilities.