SMIC - LFoundry Deal Details

SMIC publishes a webcast on LFoundry acquisition with few details on LFoundry business:

• Aptina remains a bulk of the business
• The utilization rate was 60% in the last few months, or 70% averaged over the last year
• The drop in utilization is explained by too much "concentration on one customer"
• SMIC copper process might be ported to LFoundry
• No commitment on capacity expansion or R&D investment
• All employees are retained