WARREN, N.J., July 11 /Xinhua-PRNewswire/ -- ANADIGICS, Inc. (Nasdaq: ANAD), ceremonially broke ground today for construction of a new state-of-the-art 6" gallium arsenide (GaAs) integrated circuit (IC) wafer fabrication facility (fab) in the Kunshan New and Hi-Tech Industrial Development Zone (KSND) as part of a city wide celebration in the city of Kunshan in the Jiangsu Province in China.
The ceremony took place at Kunshan New and Hi-tech Industrial Development Zone with Party Secretary of Kunshan Mr. Guohua Zhang, Mayor of Kunshan Mr. Aiguo Guan and Vice Mayor Feng-Quan Zhu and several government officials in attendance along with ANADIGICS’ President and CEO, Dr. Bami Bastani, Executive Vice President and CTO, Dr. Charles Huang, Vice President of Worldwide Human Resources John Warren and other members of ANADIGICS’ workforce.
Driven by Wireless and Wireline Broadband markets, in order to support ANADIGICS anticipated growth beyond its primary wafer fabrication located in Warren, NJ, the company and KSND plan to complete construction of the new facility in the first half of 2008, and to bring the fab operational in the latter part of the year.
"KSND is greatly honored to be involved with this project alongside ANADIGICS," said Vice Mayor Feng-Quan Zhu of Kunshan. "The addition of the Commercial six-inch GaAs wafer fab to the development zone not only shows our ever growing interest of the semiconductor industry but marks a historical first for the city of Kunshan and the country of China."
"ANADIGICS is very excited to collaborate with KSND and the city of Kunshan to expand our GaAs wafer fabrication capacity into China while contributing to the growth of our Company," said Dr. Bami Bastani, President and Chief Executive Officer of ANADIGICS, Inc. "Our new fab in China is a very significant development for both ANADIGICS and the city of Kunshan. Whereas the expansion will enable us to meet our future growth needs, it also demonstrates our commitment to the communications market in China as well as the larger Asia-Pacific Region."
KSND is comprised of three sections within the city, involving many new and hi-tech industries including; auto electronics, solar energy, robotics, and new materials. Located in Section B of development zone, ANADIGICS will take on the flagship role for the compound semiconductor industry development.
About Kunshan New and Hi-Tech Industrial Development Zone (KSND)
Kunshan New & Hi-tech Industrial Development Zone (KSND) was established in 1994, and was approved by China Ministry of Science & Technology. In 2005, KSND was approved by Chinese Government to set up the new and hi-tech industry development zone.
About ANADIGICS, Inc.
ANADIGICS, Inc. (NASDAQ: ANAD) is a leading supplier of wireless and broadband communications solutions in the rapidly growing wireless handset and broadband markets. The Company’s products include power amplifiers, tuner integrated circuits, active splitters and other components, which can be sold individually or packaged as integrated RF modules.
Safe Harbor Statement
Except for historical information contained herein, this press release contains projections and other forward-looking statements (as that term is defined in the Securities Exchange Act of 1934, as amended). These projections and forward-looking statements reflect the Company’s current views with respect to future events and financial performance and can generally be identified as such because the context of the statement will include words such as "believe", "anticipate", "expect", or words of similar import. Similarly, statements that describe our future plans, objectives, estimates or goals are forward-looking statements. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results and developments could differ materially from those projected as a result of certain factors. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such projections and forward-looking statements include those factors detailed from time to time in our reports filed with the U.S. Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2006.
