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AMD spin-off officially named GLOBALFOUNDRIES

by Scott Bicheno on 4 March 2009, 18:07

Tags: AMD (NYSE:AMD), GLOBALFOUNDRIES

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Having finally secured shareholder support for its ‘Asset Smart' strategy, AMD has now completed the spin-off of its manufacturing operations into a new company of which it is the minority shareholder.

While the process was still underway, the spin-off was given the provisional name of The Foundry Company. Apparently not wishing to rock the boat too much the newly formed company has emerged from its pupation as GLOBALFOUNDRIES (one word, capitalised).

"The launch of GLOBALFOUNDRIES represents a historic day for our industry, one which will permanently change the market landscape by launching the world's first truly global foundry services provider," said Doug Grose, CEO. 

GLOBALFOUNDRIES exists, initially at least, to do what it was doing before - manufacture chips for AMD - but an interesting sign of where it might be headed was given by the next person to be quoted in its first press release.

"As consumers move to increasingly smaller and more power-efficient devices we need to remain aggressive in our technology development and ensure we have the right foundry partners to get those products to market," said Simon Segars, Executive VP and GM at low power processor designer ARM. 

"Through the integration of our own processor and physical IP and our industry collaboration activities we continue to facilitate the adoption of next-generation consumer electronics.  We look forward to working with GLOBALFOUNDRIES as we explore their advanced technology capabilities on the ARM platform to support the growing needs of our customers around the world."

GLOBALFOUNDRIES has also added some more execs. Jim Doran is senior VP and GM of Fab 1, which is what the former AMD manufacturing facility in Dresden has been renamed. Bruce McDougall is CFO and Alexie Lee is VP and general counsel.

 



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Now I know we capitalise HEXUS… but GLOBALFOUNDRIES… that's just too much capslock!