Sino-American Silicon Well-Braced for the Next Chip Boom, With US Expansion on Track

Sino-American Silicon Products Inc., or SAS, has 51% stake in GlobalWafers, which grew to become the third-largest semiconductor silicon wafer producer via more aggressive expansion than peers. It is the only wafer producer to operate factories in Europe, Asia, and the US. Such diversified footprint is profitable due to a combination of having customers in all three regions and the firm’s track record to acquire distressed competitors in previous industry troughs. We view GlobalWafers’ new plant in Texas as a continuation of its boldness, and it will offer faster and more reliable supply to customers like Samsung and Texas Instruments.