Posted on Wednesday, August 15 2018 @ 11:00 CEST by Thomas De Maesschalck
TSMC's Board has given the greenlight for a capacity expansion. The Taiwanese foundry will invest approximately US$4,488.09 million to construct new fabs, expand existing capacity, and develop advanced process and packaging technology. At the same time, the Board also appointed Dr. H.-S. Philip Wong as Vice President of TSMC.
TSMC (NYSE: TSM) today held a meeting of the Board of Directors, which passed the following resolutions:
1. Approved capital appropriations of approximately US$4,488.09 million for purposes including: 1) Construction of fab facilities; 2) Installation, expansion, and upgrade of advanced technology capacity; 3) Conversion of logic capacity to specialty technology capacity; 4) Conversion of mature technology capacity to specialty technology capacity; 5) Expansion and upgrade of specialty technology capacity; 6) Expansion of advanced packaging technology capacity; 7) Fourth quarter 2018 R&D capital investments and sustaining capital expenditures.
2. Approved the capital injection of not more than US$2 billion to TSMC Global Ltd., a wholly-owned BVI subsidiary, for the purpose of reducing foreign exchange hedging costs.
3. Approved the appointment of Dr. H.-S. Philip Wong as Vice President of TSMC. Dr. Wong will serve as Head of Corporate Research and report directly to Senior Vice President Dr. Y. J. Mii.
Profile of Dr. H.-S. Philip Wong:
Dr. H.-S. Philip Wong holds a Ph.D. degree in Electrical Engineering from Lehigh University, USA. Prior to joining TSMC, Dr. Wong was a Tenured Professor of Electrical Engineering at Stanford University, and also has 16 years of semiconductor industry experience in IBM.
