SMIC cuts production, capex targets

January 18, 2005 – China’s Semiconductor International Manufacturing Corp. (SMIC) has lowered its spending plans for 2005 from $1.37 billion to $1.0 billion, in recognition of entering a down cycle, according to a Reuters report.

SMIC also has adjusted its planned production ramp for the year to a range of 140,000-155,000 wafers/month, down from a previous target of 185,000 wafers/month. Production output in 4Q04 was 110,000 wafers/month, below anticipated levels of 125,000 wafers/month.


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