U.S. & Chinese trade relation bolstered by $1.86 billion fab equipment spend off
SMIC (Semiconductor Manufacturing International Company) has signed six Letters of Intent (LOI) outlining plans to purchase semiconductor manufacturing equipment from top American equipment vendors at a signing ceremony of contracts and agreements between U.S. and Chinese companies at the U.S- China Hi-Tech Cooperation Forum held in San Francisco.
The LOIs are with several vendors, including Applied Materials, Axcelis, KLA-Tencor, Lam Research, Novellus and Varian Semiconductor, and total US $1.86 billion over three-year periods.
Sam T. Wang, President of SMIC Americas commented, "We believe that the US and China's trade relation is critical to the development of the high-tech industry and to global trade as a whole. We are currently at a crucial point in the world-wide development of the semiconductor industry and we are happy to aid in this growth."
