Reuters: Market News: UPDATE 1-TSMC to raise 2012 capex and production spending

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UPDATE 1-TSMC to raise 2012 capex and production spending Apr 9th 2012, 03:42 Sun Apr 8, 2012 11:42pm EDT TAIPEI, April 9 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd, the world's largest contract chipmaker, said on Monday that it will increase capital spending in 2012 and also plans to invest more than T$350 billion ($11.86 billion) in advanced production technology in Tainan in southern Taiwan over the coming years. TSMC's chairman, Morris Chang, did not specify how much capital spending will bed increased, but the amount will be disclosed when the company announces first-quarter results on April 26. The decision came after the company said last month it may enhance its advanced 28 nanometer process technology to meet rising demand for the technology. Chang also said he expects orders for the second quarter to be good. At a groundbreaking event on Monday for Phase 5 of a production plant to manufacture 20 nanometer chips, Chang said combined production with Phase 6 of the plant is expected to generate revenue of about $6 billion per year as the chipmaker seeks to compete with rivals such as Samsung Electronics Co Ltd in a highly capital-intensive industry. The new plant is expected to start volume production in 2014. At 0310 GMT, shares of TSMC slipped 0.36 percent, narrowing losses from a 0.21 percent decline in early trading. Broader market was down 0.82 percent. Link this Share this Digg this Email Reprints

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