EX-IM BANK $652 MILLION GUARANTEE BACKS SALE OF U.S. EQUIPMENT & SERVICES TO BUILD SEMICONDUCTOR PLANT IN SINGAPORE
WASHINGTON, D.C. — The Export-Import Bank of the United States (Ex-Im Bank) today approved a $652 million loan guarantee to support the export by Applied Materials Inc., Santa Clara, Cal., and other U.S. suppliers of equipment and services to build a new silicon wafer fabrication facility in Singapore specializing in application specific integrated circuits (ASIC).
Chartered Semiconductor Manufacturing Limited of Singapore will use the equipment and services to build Phase 1 of a plant known as Fab 7 capable of producing 15,000 wafers per month of 90-nanometer-process-technology, 300-millimeter-diameter silicon wafers.
It is important for Ex-Im Bank to help U.S. manufacturers of high-technology equipment to remain competitive in key markets, said Ex-Im Bank Chairman Philip Merrill. This transaction will create and sustain high quality jobs at Applied Materials and many U.S. sub-suppliers.
U.S. suppliers on the export sale include: Novellus Systems Inc., San Jose, Cal.; LAM Research Corp., Fremont, Cal.; KLA-Tencor Corp., Milpitas, Cal.; AxcelisTechnologies, Inc., Beverly, Mass.; Varian Semiconductor Equipment Assn., Gloucester, Mass.; Mattson Technology Inc., Fremont, Cal.; Thermawave Inc., Fremont, Cal.; FSI International Inc., Chaska, Min.; Aysys Technologies Inc., Fremont, Cal.; SCP Global Sales Inc., Boise, Ida.; and FEI Company, Hillsboro, Ore. In addition to equipment, the U.S. companies will supply installation and qualification services.
The guaranteed lender on the transaction is J P Morgan Chase Bank, New York, N.Y.
Chartered, an independent semiconductor foundry providing wafer fabrication services, currently owns four facilities wholly or partially with a capacity of 114,000 wafers per month. The company is building the new plant to meet expected demand for new technology now that the semiconductor industry has come out of its recent severe downturn.
Ex-Im Bank this year marks its 71st year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance, and direct loans. In fiscal year 2003, Ex-Im Bank, an independent federal agency, authorized financing to support $14.3 billion of U.S. exports worldwide. For more information on Ex-Im Bank visit http://www.exim.gov.