SMIC to take full control of subsidiary chip foundry as China’s fab industry consolidates

Semiconductor Manufacturing International Corporation (SMIC), China’s largest contract chipmaker, said it planned to buy all of a foundry it controls as the nation’s fab industry undergoes a wave of consolidation.
In a statement last week, the company said it planned to buy the remaining equity interest in Semiconductor Manufacturing North China (Beijing) Corporation (SMNC), a subsidiary that is currently 51 per cent owned by SMIC.