Samsung in joint venture with Siltronic

Samsung Electronics' Board of Directors and Siltronic's Supervisory Board approved the Joint Venture Agreement today. The closing is expected for end of August after having received certain approvals from relevant authorities. The new facility will be built in Singapore adjoining Siltronic's existing complex. Both parties will contribute equal amounts of equity. Total investment for the joint undertaking will account for USD 1 billion. The fab, will be jointly operated by Samsung and Siltronic. Construction will start in August 2006 with production expected to commence mid-2008. The JV is expected to reach 300,000 wafers per month in capacity and 800 employees by 2010.