Dec. 8, 2011
This announcement is made pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Semiconductor Manufacturing International Corporation (the "
" or "
") (NYSE: SMI; SEHK: 981) today announces that on
8 December, 2011
it entered into an agreement (the "
, Inc. ("
") to settle all pending arbitration claims and counterclaims relating to the parties' Amended and Restated 200mm Wafer Products Business Agreement dated
30 August, 2007
Under the terms of the Settlement Agreement, the Company will pay Elpida
. The Company had previously taken a reserve of approximately
, and with this settlement will incur further expense of approximately
. The Company confirms that it does not consider that the Settlement Agreement will have any material adverse effect on the financial position of the Company and its subsidiaries as a whole.
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. Headquartered in
, SMIC has a 300mm wafer fabrication facility (fab) and three 200mm wafer fabs in its
mega-fab, two 300mm wafer fabs in its
mega-fab, a 200mm wafer fab in
, and a 200mm fab under construction in
. SMIC also has customer service and marketing offices in the U.S.,
, and a representative office in
. In addition, SMIC manages and operates a 300mm wafer fab in
owned by Wuhan Xinxin Semiconductor Manufacturing Corporation.
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