TSMC Officially Announces Spin-off of Solar/LED Business

　　According to industry media reports, the world's renowned semiconductor foundry giant, Taiwan-based manufacturer TSMC (Taiwan Semiconductor Manufacturing Company, TSMC), officially announced on April 27, 2011, that it plans to spin off its solar and solid-state lighting businesses in the future. TSMC's solar and solid-state lighting businesses will subsequently form two wholly-owned subsidiaries. However, the spin-off of TSMC's solar and solid-state lighting businesses is currently still only a plan, the implementation of which still requires the approval of the company's shareholders.

　　It is revealed that after the spin-off, TSMC's solar and solid-state lighting businesses will be named TSMC Solar and TSMC Solid State Lighting, respectively. "The purpose of establishing these two wholly-owned subsidiaries is to inspire an entrepreneurial spirit and promote corporate specialization, in order to further enhance the company's overall competitiveness and operational efficiency," TSMC stated in a recently released statement.

　　According to TSMC, the initial registered capital of its soon-to-be-established wholly-owned subsidiaries, TSMC Solar and TSMC Solid State Lighting, will be as high as NT$12.5 billion (approximately US$434 million) and NT$2.8 billion, respectively. In addition, TSMC expects to officially convene its annual general meeting of shareholders on June 9, 2011, at which the spin-off of the solar and LED businesses is expected to be placed on the agenda.