Abu Dhabi plans technology cluster
Site will serve as Middle Eastern hub for ATIC's global operations
Advanced Technology Investment Company (ATIC), majority stakeholder of Globalfoundries, plans to set up a technology cluster in Abu Dhabi, furthering its vision of becoming a leader in the global semiconductor industry.
The 3 square kilometer site close to the Abu Dhabi International Airport aims to be Middle Eastern hub of ATIC's global technology and manufacturing network.
According to Ibrahim Ajami, CEO of ATIC, creating an advanced technology cluster is the next step towards the vision of making Abu Dhabi a leader in the semiconductor industry.
Globalfoundries was formed off the microprocessor manufacturing business of Advanced Micro Devices (AMD) in 2007, with ATIC investing $2.1 billion for a 55.6% stake in Globalfoundries. The deal was later renegotiated to give it 65.8% of the company.
Globalfoundries went on to acquire Singapore's Chartered Semiconductor Manufacturing in 2009, creating one of the largest chip manufacturers in the world with manufacturing operations in Germany, New York and Singapore.
The company is also focusing on the Middle East, promising to share their expertise in cluster creation and "putting a significant technology and manufacturing presence in the region long term".