TSMC on spending spree for machinery, R&D staff

[PBS Poll-435]

TSMC on spending spree for machinery, R&D staff
Money, money, money

The Inquirer (UK)
By Sylvie Barak
Saturday, 18 April 2009, 14:44

TAIWANESE FAB GIANT, TSMC, seems to be bouncing out of the slump, raising its revenue predictions for Q1 '09, confirming the hiring of several hundred more R&D employees and channeling $162 million into brand new machinery.

Taiwan Semiconductor Manufacturing Company had announced a hiring freeze back in December to fight off the bitingly cold economic winter, but even then the firm's chief executive noted R&D would not be affected.

"In principle, the hiring freeze remains in place," said a TSMC spokesman but added the firm would be hiring, "a few hundred additional staff in the next few months for our R&D and Design and Technology Platform (DTP) organizations and also to support new 300-mm capacity."

TSMC seems to be juggling it's eggs, having only recently layed off 200 employees from non R&D units.

The foundry giant also filed papers at the Taiwan Stock Exchange outlining its intent to funnel 5.5 billion Taiwanese dollars on "acquisition of assets". These assets are purportedly machinery equipment from the likes of Applied Materials, ASML, and KLA-Tencor.

The tentative hiring of new staff and spanking new equipment is an indication the firm is feeling a bit chipper after its March sales report topped expectations, up 18.4 per cent from February 2009.

Also, although still 48.7 per cent down from March 2008 sales, indicators are beginning to suggest the semiconductor industry may be over the worst of the crisis. µ

[PBS Poll-435]

1. (this is indicative of recovery in the IT/semi-conductor industry)

nt

[PBS Poll-435]

2. Anyone?

This is kinda good news...