Hsinchu, Taiwan, December 10, 2019 – GlobalWafers held board meeting today to approve repatriation of offshore funds proposal. In response to government policy to attract overseas funds repatriation and increase GlobalWafers’ investment in Taiwan semiconductor sector, GlobalWafers will repatriate approximately USD 350 million (over NTD 10 billion) offshore funds pursuant to Repatriated Offshore Funds Act. Sources of repatriated funds are profit distribution of overseas subsidiary and repatriation of investment funds.
GlobalWafers’ over NTD 10 billion offshore funds repatriation is expected to be completed in the first half of next year. Funds are to be invested in four major areas:
1.Significantly increase the production capacity and technology of silicon wafers for advanced semiconductor processes.
2.Accelerate the technology development and capacity increase of SiC wafers and semi-insulating SiC wafers required for 5G, power electronics, and electric vehicles.
3.Expand the resources and technologies of GlobalWafers’ R & D center in Taiwan.
4.Invest in renewable energy capacity in Taiwan development to reduce CO2 emission from power consumption in silicon wafer manufacturing.
GlobalWafers was certified as Green Factory by Taiwan Industrial Bureau in October, and the repatriated funds will help GlobalWafers to invest more in renewable energy production, fulfill corporate commitment on social responsibility and contribute to environmental protection. In addition, the repatriated funds will also be beneficial to GlobalWafers’ innovative R&D technology in semiconductor wafers and the planning of advanced blue ocean products, which creates forward-looking substantial benefits for the future of the company.
GlobalWafers Co., Ltd.
Spokesman: William Chen, Vice President
TEL: +886-3-577-2255 EXT: 2280
Deputy: Benjamin Chen, Financial Manager
TEL: +886-3-578-3131 EXT: 1361