United Microelectronics Corporation (UMC) announced on August 24 that its board of directors has approved plans to establish a wholly-owned subsidiary dubbed UMC New Business Investment to focus on technologies for renewable energy and energy saving. The subsidiary will start off with an initial capital of NT$1.5 billion (US$45.6 million).
Wen Yang Chen, senior vice president of UMC, has been appointed to lead the subsidiary, which will initially target the solar energy and LED markets, according to UMC. Chen is currently responsible for operations and sales of UMC's 8-inch (including 6-inch) fabs.
UMC said it expects the new energy business to become another core business and contribute to its long-term growth.
UMC CEO Shih-Wei Sun
Photo: Terry Ku, Digitimes, July 2009
Article translated by Jessie Shen
