Wednesday, January 7, 2009

Government gives OK to AMD partnership

The federal government today gave the OK for Advanced Micro Devices to partner with the foreign-based Advanced Technology Investment Company, a key step in the creation of a $4.6 billion computer chip factory in Malta.

The partnership was to form what they are calling The Foundry Co., which was subject to approval by the Committee on Foreign Investment, an arm of the U.S. Treasury Department. That committee reviews national security implications and risks from foreign deals. The creation of The Foundry Co. was subject to such a review since ATIC, AMD’s new partner, is based in Abu Dhabi.

The arrival of the computer chip plant in Malta’s Luther Forest Technology Campus, which will be overseen by The Foundry Co., is expected to bring about 1,400 jobs to the region.

The chip plant’s arrival still hinges on shareholder approval, which officials say could come soon.

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