GlobalFoundries signs first customer

Advanced Micro Devices (AMD) is turning dreams into reality - its recently detached chip manufacturing operator, GlobalFoundries, has landed its first outside customer, writes Motley Fool.

Swiss technology giant STMicroelectronics has signed a multi-year partnership to leverage GlobalFoundries' low-power, 40-nanometer manufacturing technology starting next year. STMicro has 15 chip factories of its own, but is working to reduce its capital expenses and therefore wants to expand its outsourcing activities.

With nearly $10 billion of sales in each of the last three years, this is a big player that could send serious amounts of business to GlobalFoundries, and by extension help make the foundry a profitable venture for AMD and its majority partner, an investment fund for the Abu Dhabi government, somewhere down the line.

In a bid to tap the growing engineering and aerospace design and consulting market in India, a 3D and product life cycle management software company, Dassault Systemes, has set up a dedicated consulting arm for the country, reports Daily News & Analysis.

This is perhaps the first time a multinational software products company has set up such a dedicated consultancy arm to address a particular market. The exclusive manufacturing solutions group has already started functioning.

India is currently the third-largest market in Asia for Dassault Systemes after Japan and China, but according to Andy Kalambi, president, DS India, there is much more engineering design activity happening in India than anywhere else.

Hewlett-Packard and major electronics maker Foxconn Technology Group have agreed to jointly invest $3 billion in laptop manufacturing bases in Chongqing, the Hong Kong-based South China Morning Post reported, according to China Daily.

The two companies formally signed a deal with the local government on Tuesday. When completed, the manufacturing hub will consist of two main facilities, which together can produce 20 million laptops for exports each year.

The hub is expected to generate an annual output of 200 billion yuan (R230 billion), about one third of the south-western municipality's yearly industrial output, according to the Shanghai-based China Business News.