Globalfoundries eyes IPO as ATIC sets expectations

Peter Clarke, EETimes
11/15/2012 8:51 PM EST

MUNICH, Germany – Foundry chip manufacturer Globalfoundries Inc. is expected to be a profitable and self-sustaining business by 2015, one that does not require additional funding from its present parent Advanced Technology Investment Company (ATIC). The expectation was laid out in a press conference held by the two companies in Abu Dhabi that coincided with the one-year anniversary of Ajit Manocha's appointment as CEO of Globalfoundries on Oct. 31, 2011.

An initial public offering (IPO) of shares in the company would then be an option Mike Noonen, executive vice president of worldwide marketing and sales, told EE Times on the sidelines of the Electronica exhibition, here. However, moving the company to profitability was the first order of business, he said.

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