UMC creates new solar-energy division
On 12 August, after weeks of local media speculation, Taiwan Semiconductor Manufacturing Company (TMSC) unwrapped plans to invest $50m to establishing a foothold in Asia’s frothy solar industry. Less than two weeks later, smaller rival United Microelectronics Corporation (UMC) has essentially matched the solar ante, echoing its intention to diversify beyond semiconductors.
“UMC’s knowledge and technologies are highly applicable to the fundamentals of these two industries,” the company says.
UMC says it will spend T$1.5bn ($46m) building a new business division and research facility dedicated to the “high-growth, high-profit” markets shaping up around solar energy and light-emitting diodes (LEDs).
Shares in UMC put on 7% – hitting their daily limit – on news of the subsidiary, to be called UMC New Business Investment Corporation. UMC’s solar arm will focus on scali
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