Tongmei Secures Up to US$545 Million for Semiconductor Manufacturing Expansion

Beijing Tongmei Xtal Technology entered into investment agreements on 27 October that could bring in up to RMB 3.67 billion (approximately US$545 million) from institutional investors, with a minimum investment commitment of RMB 1.91 billion (about US$285 million). The capital will support expansion of indium phosphide semiconductor-substrate manufacturing capacity, supplier operations and capital expenditure, creating significant opportunities for industrial equipment providers, materials suppliers, cleanroom contractors, logistics companies and semiconductor production specialists.

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