BRIEF-NXP Semiconductors To Establish A Joint Venture To Build And Operate A 300mm Fab for $7.8 billion
June 5 (Reuters) - Nxp Semiconductors:
* VIS AND NXP TO ESTABLISH A JOINT VENTURE TO BUILD AND OPERATE A 300MM FAB
* TOTAL COST OF INITIAL BUILD OUT IS ANTICIPATED TO BE $7.8 BILLION
* JOINT VENTURE WILL CREATE APPROXIMATELY 1,500 JOBS IN SINGAPORE
* VIS TO INJECT $2.4 BILLION REPRESENTING A 60 PERCENT EQUITY POSITION IN JV; NXP WILL INJECT $1.6 BILLION FOR 40% EQUITY POSITION
* VIS AND NXP HAVE AGREED TO CONTRIBUTE AN ADDITIONAL $1.9 BILLION WHICH WILL BE UTILIZED TO SUPPORT LONG-TERM CAPACITY INFRASTRUCTURE
* FAB WILL BE OPERATED BY VIS
* REMAINING FUNDING INCLUDING LOANS WILL BE PROVIDED BY THIRD PARTIES TO JOINT VENTURE
* JOINT VENTURE WILL BEGIN CONSTRUCTION OF INITIAL PHASE OF WAFER FAB IN SECOND HALF OF 2024
* PENDING RECEIPT OF ALL REQUIRED REGULATORY APPROVALS, WITH INITIAL PRODUCTION AVAILABLE TO CUSTOMERS DURING 2027 Source text for Eikon: Further company coverage: