Quotes
"Today is a landmark day for AMD, creating a financially stronger company with a tightened focus," said Dirk Meyer, president and chief executive officer of AMD. "With The Foundry Company, AMD has developed an innovative way to focus our efforts on design while maintaining access to the leading-edge manufacturing technologies that our business needs without the required capital-intensive investments of semiconductor manufacturing. I particularly want to congratulate our Chairman Hector Ruiz, whose vision and leadership of our Asset Smart strategy is fulfilled today."
"We are as enthusiastic about AMD's potential today as we were when we made our initial investment last year," said Khaldoon Al Mubarak, chief executive officer and managing director of Mubadala. "This increased investment is a strong vote of confidence in AMD's Asset Smart business strategy, evolved leadership team, and best-in-class technology."
"ATIC and AMD are the ideal partners with which to create The Foundry Company," said Hector Ruiz, chairman of AMD's board of directors, who will become chairman of The Foundry Company. "Working together allows us to combine ATIC's long-term vision and patient capital with our manufacturing leadership, innovation and highly-skilled workforce. Moreover, The Foundry Company's presence in Upstate New York alongside IBM and other research leaders will cement the region's position as one of the world's premier centers of nanotechnology development."
ATIC Chairman Waleed Al Mokarrab said, "More than a year in the making, today's announcement significantly reshapes the global semiconductor industry - it is an investment where all parties see significant opportunity. Independent and well-capitalized, The Foundry Company begins day one with an established leading-edge customer, an advanced technology roadmap, an R&D partnership with IBM, and a clear plan to scale capacity, providing it the foundation to become a clear leader in global semiconductor manufacturing."
"The creation of The Foundry Company represents a critical milestone in the evolution of the semiconductor industry," said Doug Grose, who will be the CEO of The Foundry Company. "Companies are eager for choice in the supply of leading-edge manufacturing capacity, and our new venture is answering that call. By combining operational excellence, leading-edge technology developed in collaboration with IBM, and an aggressive capacity roadmap, The Foundry Company aspires to drive the next round of innovation in this industry."
