SMIC cuts deal with Singapore packager

Semiconductor Manufacturing International Corp (SMIC) said it will establish a US$100m joint venture with Singapore's United Test and Assembly Centre (UTAC) to provide semiconductor assembly and packaging services in Chengdu for its logic products used in consumer products. SMIC said it would invest US$51m for a 51% stake, UTAC US$30m for 30% and other investors and employees would invest the balance.