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China-based Tsinghua Unigroup to start making its own memory chips

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November 9, 2015

China-based Tsinghua Unigroup (TU), having recently failed to successfully acquire Micron, is going to start making its own memory chips, the company said earlier today.

The Chinese government-owned company will invest upwards of US $12 billion to build a new manufacturing facility and then make a few acquisitions.

It's being positioned as part of China's long term goal of being less dependent on Western technology, the company said in a statement.

The acquisitions will be made by a newly set up subsidiary called Tongfang Guoxin Electronics (TGE), which has a filing on the Shenzhen stock exchange.

The report suggests it could acquire intellectual property needed to manufacture memory chips.

The TGE filing said it would raise about US $12.6 billion in a private placement with funds coming from chairman Zhao Weiguo's investment company.

For now, TU is not a listed company and is part of the Chinese state-owned Tsinghua Holdings.

TU is investing US $600 million in Powertech Technology in Taiwan. It will have a 25 percent holding, the largest one, and Powertech will be Tsinghua's chip assembly and testing partner.

In the next twelve months or, we also expect China to try to set up its own NAND manufacturing facility as well. We'll keep you posted on these and other IT news.

Source: The Tsinghua Unigroup.

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