Globalfoundries aims to make $4 billion this year

Globalfoundries, a leading contract maker of semiconductors controlled by Advanced Technology Investment Company and Advanced Micro Devices, plans to become the world's second largest foundry by revenue already this year and boost its revenue by 14% to $4 billion in 2011, its chief executive officer said on Tuesday.

Thanks to increasing orders from new clients, Globalfoundries wants to increase its earnings from around $3.5 billion in 2010 to approximately $4 billion in calendar 2011 and, leave behind United Microelectronics Corp. in terms of revenue and become the world's second largest contract maker of semiconductors. The company's strategy to boost its sales is rather simple: it aims to expand manufacturing capacity migrate faster to advanced process technology than other makers, said Doug Grose, chief executive of Globalfoundries, in an interview with Dow Jones Newswires.