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TSMC NOT TO MOVE TOWARD MAINLAND WITHOUT GOVT APPROVAL.
TAIPEI, Sept 2 Asia Pulse - Taiwan Semiconductor Manufacturing Co. (TSMC)(TAIEX:2330) Chairman Morris Chang said Friday that the TSMC will not move toward mainland China before getting approval from the government.
Chang made the remarks prior to giving a luncheon speech at the Chinese National Association of Industry & Commerce.
Responding to reports that construction work for a TSMC plant in Sungjiang, Shanghai, began recently, Chang reaffirmed that the timing of the setting up of the plant will depend on market developments and that the company will not move before it gets government approval.
Chang said that the mainland market is not very open and that TSMC has to consider setting up a plant there in order to maintain its competitive edge.
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