GLOBALFOUNDRIES to Acquire Land in Malta, NY, Positioning its Advanced Manufacturing Facility for Future Growth
GLOBALFOUNDRIES to Acquire Land in Malta, NY, Positioning its Advanced Manufacturing Facility for Future Growth
Land purchase option increases Fab 8 footprint for future development to support growing client and U.S. government technology development needs
Malta, NY, June 22, 2020 – GLOBALFOUNDRIES® (GF®), the world's leading specialty foundry and the leading U.S. pure-play manufacturer of semiconductors, today announced it has secured a purchase option agreement for approximately 66 acres of undeveloped land adjacent to its most advanced manufacturing facility, Fab 8, in Malta, N.Y., near the Luther Forest Technology Campus (LFTC).
The land parcel is located at the southeast end of the New York State Energy Research and Development Authority (NYSERDA) Saratoga Technology + Energy Park (STEP) campus, adjacent to Stonebreak Road Extension, between GF’s Fab 8 facility and Hermes Road. Exercising the option to purchase the land and commencement of development to expand GF’s Fab 8 facility will be subject to zoning regulations and client demand. The parcel is being sold at Fair Market Value, with a purchase price determined by an independent appraiser.
“Amid growing consensus in our nation's capital for investment in semiconductor manufacturing, it's more important than ever that we are ready to fast track our growth plans at GLOBALFOUNDRIES’ most advanced manufacturing facility in the U.S.," said Ron Sampson, senior vice president and general manager of U.S. Fab Operations at GF. “With this agreement option, we now have additional flexibility to expand our footprint and position Fab 8 for future growth in Saratoga County and New York State, while strengthening U.S. leadership in semiconductor manufacturing."
"GLOBALFOUNDRIES continues to demonstrate its commitment to economic growth in Saratoga County and Upstate New York," said Darren O’Connor, Malta's Town Supervisor. "I am pleased to hear that this latest step will enable future growth opportunities for GLOBALFOUNDRIES for years to come.”
GF employs nearly 3,000 people and has invested over $13 billion in Fab 8, its most advanced manufacturing facility in upstate New York. The company recently announced it is bringing its most advanced Fab 8 facility in upstate New York into compliance with both the U.S. International Traffic in Arms Regulations (ITAR) standards and the highly restrictive Export Control Classification Numbers (ECCNs) under the Export Administration Regulations (EAR).
About GF
GLOBALFOUNDRIES (GF) is the world’s leading specialty foundry. GF delivers differentiated feature-rich solutions that enable its clients to develop innovative products for high-growth market segments. GF provides a broad range of platforms and features with a unique mix of design, development and fabrication services. With an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF has the flexibility and agility to meet the dynamic needs of clients across the globe. GF is owned by Mubadala Investment Company. For more information, visit www.globalfoundries.com.
|
Related News
- GLOBALFOUNDRIES To Build R&D Facility in New York to Accelerate Advanced Manufacturing Technologies for Global Customers
- GlobalFoundries and STMicroelectronics Finalize Agreement for New 300mm Semiconductor Manufacturing Facility in France
- GlobalFoundries Completes Purchase of 800 Acres Adjacent to New York Manufacturing Facility
- SkyWater Plans to Build Advanced $1.8B Semiconductor Manufacturing Facility in Partnership with the State of Indiana and Purdue University
- STMicroelectronics and GlobalFoundries to advance FD-SOI ecosystem with new 300mm manufacturing facility in France
Breaking News
- Logic Design Solutions launches Gen4 NVMe host IP
- ULYSS1, Microcontroller (MCU) for Automotive market, designed by Cortus is available
- M31 is partnering with Taiwan Cooperative Bank to launch an Employee Stock Ownership Trust to strengthen talent retention
- Sondrel announces CEO transition to lead next phase of growth
- JEDEC Publishes LPDDR5 CAMM2 Connector Performance Standard
Most Popular
- Arm's power play will backfire
- Alphawave Semi Selected for AI Innovation Research Grant from UK Government's Advanced Research + Invention Agency
- Secure-IC obtains the first worldwide CAVP Certification of Post-Quantum Cryptography algorithms, tested by SERMA Safety & Security
- Weebit Nano continuing to make progress with potential customers and qualifying its technology Moving closer to finalisation of licensing agreements Q1 FY25 Quarterly Activities Report
- PUFsecurity Collaborate with Arm on PSA Certified RoT Component Level 3 Certification for its Crypto Coprocessor to Provide Robust Security Subsystem Essential for the AIoT era
E-mail This Article | Printer-Friendly Page |