New Management Change at SMIC
November 09 2009 - 7:42PM
PR Newswire (US)
Dr. David N.K. Wang as New President and CEO SHANGHAI, Nov. 9
/PRNewswire-Asia/ -- The Board of Semiconductor Manufacturing
International Corporation ("SMIC" or "the Group"; NYSE: SMI and
SEHK: 0981.HK), today announced the appointment of Dr. David N.K.
Wang as an Executive Director of the Board and the President and
CEO of SMIC effective immediately. Dr. Richard Chang has resigned
to pursue other personal interests. Dr. Wang is a well known
executive with extensive experience in the global semiconductor
industry. Dr. Wang was the CEO of Huahong (Group) Co., Ltd. and
Chairman of Huahong NEC, a subsidiary of Huahong Group between
September 2005 and June 2007. Prior to joining Huahong Group, Dr.
Wang was the Executive Vice President of Applied Materials and
President of Applied Materials Asia. Dr. Wang was responsible for
Applied Materials' business strategy, planning and execution
throughout Asia with a particular focus on building infrastructure
worldwide. Prior to joining Applied Materials, Dr. Wang conducted
research and made a number of key breakthroughs in semiconductor
technology at Bell Laboratories. Dr. Wang is a well recognized and
respected innovator with more than 100 patents under his name. Dr.
Wang received his Ph.D. in Materials Science and Engineering from
the University of California, Berkeley. Mr. Jiang Shang Zhou,
Chairman of the Board of Directors said, "We are pleased to have
Dr. Wang as our new leader at SMIC. The wealth of experience and
knowledge in the semiconductor industry he brings with him will
help foster further growth of SMIC in China and the world. Also, I
want to express my sincere thanks to Dr. Chang for his invaluable
contribution to the founding and growth of SMIC over the years,
helping SMIC to grow into a leading player in the semiconductor
industry. Today, we have reached a new milestone and are ready to
start a new chapter. I am confident that with Dr. Wang being on
board, SMIC is embarking on a new initiative to better serve its
customers, broaden its product portfolios, and advance the
technology front." About SMIC Semiconductor Manufacturing
International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of
the leading semiconductor foundries in the world and the largest
and most advanced foundry in Mainland China, providing integrated
circuit (IC) foundry and technology services at 0.35um to 45nm.
Headquartered in Shanghai, China, SMIC has a 300mm wafer
fabrication facility (fab) and three 200mm wafer fabs in its
Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a
200mm wafer fab in Tianjin, a 200mm fab under construction in
Shenzhen, and an in-house assembly and testing facility in Chengdu.
SMIC also has customer service and marketing offices in the U.S.,
Europe, and Japan, and a representative office in Hong Kong. In
addition, SMIC manages and operates a 200mm wafer fab in Chengdu
owned by Cension Semiconductor Manufacturing Corporation and a
300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor
Manufacturing Corporation. For more information, please visit
http://www.smics.com/ . SAFE HARBOR STATEMENTS (Under the Private
Securities Litigation Reform Act of 1995) This press release
contains "forward-looking statements" within the meaning of the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
SMIC's current assumptions, expectations and projections about
future events. SMIC uses words like "believe," "anticipate,"
"intend," "estimate," "could," "expect," "project" and similar
expressions to identify forward-looking statements, although not
all forward-looking statements contain these words. These
forward-looking statements involve significant risks, both known
and unknown, uncertainties and other factors that may cause SMIC's
actual performance, financial condition or results of operations to
be materially different from those suggested by the forward-looking
statements, including, among others, risks related to the
litigation with TSMC, in particular, the outcome of the damages
portion of the trial, and orders or judgments and the trial
schedule from other pending litigation, including SMIC's cross
claims. Investors should consider the information contained in
SMIC's filings with the U.S. Securities and Exchange Commission
(SEC), including its Annual Report on Form 20-F, as amended, filed
with the SEC on June 22, 2009, especially in the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections, and such other documents that SMIC
may file with the SEC or SEHK from time to time, including on Form
6-K. Other unknown or unpredictable factors also could have
material adverse effects on SMIC's future results, performance or
achievements. Except as may be required by law, SMIC undertakes no
obligation and does not intend to update any forward-looking
statement, whether as a result of new information, future events or
otherwise. For more information, please contact: Esther Lau
Strategic Financial Relations Limited Tel: +852-2864-4845 Email:
Winnie Lau Strategic Financial Relations Limited Tel:
+852-2864-4876 Email: DATASOURCE: Semiconductor Manufacturing
International Corporation CONTACT: Esther Lau, +852-2864-4845, or ,
or Winnie Lau, +852-2864-4876, or , both of Strategic Financial
Relations Limited, for SMIC Web Site: http://www.smics.com/
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