AMD Creates Joint Venture With China's Nantong Fujitsu

Advanced Micro Devices Inc. agreed to create a joint venture with China’s Nantong Fujitsu Microelectronics Co., providing factories in Penang, Malaysia, and Suzhou, China, in exchange for $371 million in cash and a 15 percent stake in the new entity.

Nantong Fujitsu will get 85 percent ownership of the joint venture, which is expected to significantly reduce AMD’s capital expenditure, the companies said Thursday in a statement. About 1,700 AMD workers at the two factories will become employees of the joint venture, the companies said.

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