August 9, 2003 – China Resources Logic (CR Logic) plans to restructure its semiconductor business into a $95 million joint venture, with a possible listing by 2005, according to the Financial Times.
The business, CSMC Technologies Corp., is a 50/50 JV co-owned by CR Logic and Central Semiconductor Manufacturing Corp. (CSMC). After completion of three rounds of $67 million in investments, the JV would be majority-owned by CR Logic (32.9%), with CSMC holding 27.3%, and other investors holding the rest.
The major profit center for the JV will be Wixu CSMC-HJ Semiconductor Company, which will expand capacity at its 6-in. wafer plant from 20,000 to 40,000 wafers/month, and may invest another $300 million to ramp up another production line of 30,000 wafers/month.