03 May 2011

The Board of Directors of TSMC (NYSE: TSM), the Hsinchu, Taiwan-based semiconductor manufacturer, has approved a proposal to transfer the company’s solar business and its solid-state lighting (SSL) business into two newly-established, wholly-owned subsidiaries.

Recently, TSMC invested in new LED manufacturing lines. The company now plans to transfer its SSL business at a value not exceeding NT$2.8 billion to serve as initial paid-in capital for TSMC Solid State Lighting Ltd.

TSMC says that the establishment of these two subsidiaries is aimed at motivating entrepreneurship and facilitating business specialization to strengthen overall competitiveness and operational efficiency.