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Power/Alternative Energy  

UMC dips into solar, LED markets

Posted: 28 Aug 2009     Print Version  Bookmark and Share

Keywords:UMC development centre  LED  solar 

United Microelectronics Corp. announced plans to establish a new business development centre and a wholly-owned subsidiary, the UMC New Business Investment Corp., to be headed by Wen Yang Chen, senior VP of UMC.

With the centre, UMC plans to capitalise in high growth and high profit potential industries through timely strategic investment. UMC New Business Investment's capital, which is expected to reach Rs.222.26 crore

($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 utilisation 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 utilisation strategy through this new energy business development to increase capital utilisation performance, build momentum for long-term growth, and to create even greater benefits for UMC's shareholders.





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