Macronix scales up investment budget for 12-inch capacity expansion

Macronix International's board of directors has approved a budget of NT$27.5 billion (US$900 million) to expand capacity at its 12-inch fab, an increase of NT$7 billion from the company's original target, according to the NOR flash and mask ROM chipmaker. The funds will be spent between January 1 and July 1, 2011 to double the company's 12-inch capacity to 20,000 wafers a month.
Macronix recently obtained a NT$18 billion syndicated loan from a group of 15 banks, with an aim to fund two phases of capacity expansion at its 12-inch facility. The fab was bought from ProMOS Technologies for NT$8.5 billion in April 2010.
Macronix posted revenues of NT$3 billion in September, the company's highest monthly level since the same month of 2009. Revenues for the third quarter amounted to NT$8.16 billion, within the range of the company's guidance.
Macronix will hold a quarterly investors conference on October 27, to discuss its performance in the third quarter and guidance for the fourth.