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SMIC to sell stake in LFoundry

Taipei, Taiwan, Apr. 03, 2019 – 

LFoundry, a Semiconductor Manufacturing International (SMIC) company, has entered into a binding agreement with SMIC for the latter to sell all of its stakes in the former to Jiangsu CAS-IGBT Technology.

Headquartered in Avezzano, Italy, LFoundry is 70% owned by SMIC as a result of a share purchase agreement reached in 2016.

LFoundry said the the production capacity of the Avezzano plant - focused on the automotive sector, as well as security and industrial applications, such as CMOS image sensors, smart power and embedded memory - will provide Jiangsu CAS-IGBT a "unique platform" from which to grow existing and new lines of businesses.

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