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UMC unveils solar, LED plans

Posted: 28 Aug 2009 ?? ?Print Version ?Bookmark and Share

Keywords:UMC development center? LED? solar?

The board of directors of United Microelectronics Corp. has approved the establishment of a new business development center and its 100 percent owned subsidiary, UMC New Business Investment Corporation. Wen Yang Chen, senior VP of UMC, will be responsible for New Business Development Center.

With the center, UMC plans to capitalize in high growth and high profit potential industries through timely strategic investment. UMC New Business Investment's capital, which is expected to reach$45.5 million, will be focused on solar and LED technologies. In the short-to-mid term, UMC plans to complete the development of related technologies and establish a preliminary scale of operations. For the long term, as key proficiencies mature and resource integration is complete, the new energy business is expected to become another UMC core business with high competitive advantages.

Chen is currently responsible for operations and sales of UMC's 8-inch (including 6-inch) fabs. He will also be responsible for the operation of UMC New Business Development Center, which will allow him to leverage his extensive experiences in the semiconductor industry to conduct evaluations on various investments, and the integration, management and utilization of human resources, technology and capital.

Enhancing UMC's profitability and improving shareholders' equity has always been UMC's goal. UMC will continue to strengthen its foundry industry competitiveness, while also adopting an intelligent capital utilization strategy through this new energy business development to increase capital utilization performance, build momentum for long-term growth, and to create even greater benefits for UMC's shareholders.

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