Globalfoundries to Double Spending on Plants in 2011
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Globalfoundries Inc., seeking to become the world’s largest contract manufacturer of computer chips, will double spending on plants and equipment this year.
The company plans to increase spending to $5.4 billion in 2011, from $2.7 billion last year, Chief Financial Officer Robert Krakauer said in an interview. The money will go toward upgrading a plant in Dresden, Germany, building another in upstate New York, and planning a factory in Abu Dhabi.