Abu Dhabi's Advanced Technology Investment Co (ATIC) expects to earn its first profit by 2015 as it scales up operations overseas, but plans to set up a chip manufacturing facility at home remain on hold, its chief executive said on Wednesday.
ATIC, owned by Abu Dhabi's official investment fund Mubadala and founded in 2008, is part of the emirate's drive to diversify its economy away from oil into technology sectors such as semiconductors.
The company owns unlisted Global Foundries, which has chip manufacturing facilities in Singapore, Germany and New York. Early this year, Global Foundries said it would invest more than $3 billion to fund expansion of its facilities.
No comments:
Post a Comment