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Globalfoundries Will Spend $3 Billion on Factories in 2012

Globalfoundries Inc., the contract chip manufacturer that was spun off from Advanced Micro Devices Inc. in 2009, plans to spend $3 billion on plants and equipment this year, Chief Executive Officer Ajit Manocha said.

The company spent $8 billion between 2010 and 2011, he said today in an interview at the Consumer Electronics Show in Las Vegas. Most of the money will go toward finishing and equipping a factory being built in upstate New York, he said.