GlobalFoundries bullish about its foundry futures -

Foundry contender GlobalFoundries (GloFo) is engaged on a mission to woo Asian partners, and has held events in both the Hsinchu Science Park in Taiwan and in Shanghai.

Hsinchu Science Park is the lair of number one pure foundry player TSMC, and GloFo has its sight set on that company.

And the message it's putting across, according to the Taipei Times, is that despite slower demand for PC chips, it still sees steady demand for its foundry business.

According to information released to the Taipei Times, its revenue growth is going to outpace the worldwide semi industry and it will turn over $3.5 billion for the full year. That puts it a cigarette paper away from number two foundry, UMC.

To offset the slight slowdown in PC chip sales – one of its major customers is AMD – its chief operating officer Chia Song Hwee said that fabbing up wireless chips will make up the shortfall.

Chia also forecast that the global semiconductor market will grow by five percent in 2011, provided that the world economy grows by around four percent, said the Taipei Times, here.