[China] Chinese foundries to merge


 Shanghai Hua Hong NEC and Grace Semiconductor, China's second and third largest semiconductor foundries behind Semiconductor Manufacturing International Corp. (SMIC), have agreed to a merger that is currently awaiting regulatory approval, according to a report Thursday (Dec. 1) by the Reuters news service.


The report quoted an anonymous source saying that the deal is about to close and will probably happen by the end of the year.


Market research firm iSuppli Corp.—now known as IHS iSuppli—said more than two years ago that Grace and Hua Hong were set to merge.


Hua Hong was ranked 13th among the world's foundries in sales in 2010, while Grace was No. 15, according to Semico Research Corp.


Source: EETimes