An Abu Dhabi owned microchip producer, Globalfoundries will increase its spending in 2011 to $5.4 billion in an attempt to become the largest microchip producer in the market. Globalfoundries is controlled by an Abu Dhabi Government-owned investment firm called Advanced Technology Investment Company (ATIC). Advanced Technology Investment Company owns 86 percent of Globalfoundries’ shares.
Globalfoundries manufacturers silicon wafers used to build microchips for electronic products such as laptops, desktop computers and smartphones.
According to a company statement, Globalfoundries plans to increase its invested capital among its divisions in New York, Singapore, Germany, and Abu Dhabi.
The CFO of Globalfounderies, Robert Krakauer, said that “Our 2011 capital expenditure represents a significant increase in our investments and is designed to allow us to accelerate efforts in adding key near-term capacity while enabling a roadmap for sustainable long-term growth in both our 200mm and 300mm operations.”