World News | Taiwanese Supplier to Chip Producers Announces Expansion

Taipei, Feb 7 (AP) GlobalWafers Co., which supplies silicon wafers to semiconductor manufacturers, says it will invest $3.6 billion in facilities in Asia, the United States and Europe after its attempt to acquire Germany's Siltronic AG failed.

Sunday's announcement comes amid shortages of processor chips and other semiconductors that are disrupting auto manufacturing, smartphone and other industries. Producers are announcing plans to expand output, which will boost demand for wafers.

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GlobalWafers' bid to buy Siltronic fell through after German regulators failed to complete a review of the offer by a Jan. 31 deadline. The Taiwanese company said the 100 billion New Taiwan dollars ($3.6 billion) earmarked for the purchase will go into expanding its production capacity instead.

The company. headquartered in Hsinchu, Taiwan, said production should increase in the second half of 2023 but gave no details of possible locations.

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GlobalWafers says it is the world's third-largest supplier of silicon wafers used in semiconductors for information technology, auto manufacturing and other products. It has factories in Taiwan, Japan, the United States, South Korea, China and Southeast Asia. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)