Dirk Meyer, the new chief executive officer of Advanced Micro Devices, said in an interview with a news-paper that the company would spin off its manufacturing operations in months time as a part of its asset smart strategy. This is the first confirmation of the expected action by AMD’s high-ranking executive.Source: X-bit Labs
Austin American Statesman news-paper quotes Mr. Meyer as saying that “the company is just months away from a major restructuring that will spin the manufacturing operations off into a separate company, with new ownership”. It remains to be seen whether there will be one or two owners of the “AMD Semiconductor” company or the parent chipmaker will just make initial public offering (IPO) and issues new shares.
“Hector said he will be the most disappointed man on Earth if it [spin off – X-bit labs] is not done by the end of the year, and I will be the second most disappointed. It certainly needs to happen to remove this cloud over our head relative to the financial viability of the company,” said Mr. Meyer.
AMD to go fabless, will spin off manufacturing
Posted on Thursday, Jul 24 2008 @ 00:33 CEST by Thomas De Maesschalck