LSI Logic to Open Engineering Design Facility at Dubai Silicon Oasis
Dubai, UAE - September 25, 2005 - Dubai Silicon Oasis (DSO) today announced that LSI Logic Corporation (NYSE: LSI) is establishing an engineering development center focused on the design of high performance consumer electronics solutions. The LSI Logic development center will be located at the DSO Microelectronics Innovation Center.
LSI Logic is a technology leader that provides silicon to systems capabilities for the consumer electronics, storage and custom solutions markets. DSO is a strategic initiative of the government of Dubai to build a global microelectronics technology park providing turnkey design and development facilities for the electronics industry.
The agreement between DSO and LSI Logic was signed by Shaikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority and Wilfred J. Corrigan, chairman of the LSI Logic Board of Directors during a special signing ceremony at the Gulf IT Expo (GITEX) 2005 opening at the World Trade Center in Dubai.
Praising the initiative of establishing a design center in Dubai, Shaikh Ahmed bin Saeed Al Maktoum, Chairman, DSO said, "DSO has been created to attract the world's renowned high technology firms. LSI Logics initiative further enables the regions transition into a thriving knowledge economy. The LSI Logic agreement solidifies our ability to provide the right environment for companies to operate here, making Dubai a world class location for multi-national high technology firms to establish cost-effective R&D and manufacturing operations".
DSO has been created to attract the worlds leading high technology companies that are looking to maintain technological leadership position in their markets. Establishing an IC design facility near a large pool of engineering talent provides companies with a key ingredient for continued technological innovation that is required to deliver increasingly sophisticated products that can meet consumer demand at competitive prices. Dubai is the ideal location for companies looking to attract diverse engineering talent for their research and development activities.
"This agreement with LSI Logic establishes the presence of the first multi-billion dollar leading semiconductor company that will be conducting design activity in the region for the very first time," said Dr. Mohammed Ahmed Al Zarouni, Vice Chairman of DSO. "This confirms the successful strategy that is being implemented to attract and retain companies that play an integral part in the global electronics supply chain."
"Approximately, 60 percent of LSI Logic's second quarter semiconductor revenues came from overseas customers with Asia being the company's largest foreign market," said Corrigan. "We have always strived to develop a global workforce and position our engineering talent in close proximity with our worldwide customers."
"DSO is delighted to establish this strong partnership with LSI Logic. We fully understand their requirements for superior quality and performance from design onward," said Dr. Jürgen Knorr, CEO of DSO. Our key objective is to create a platform equipped with the entire infrastructure and facilities required by the global technology firms that are looking to expand offshore for their IC design, IP development and advanced manufacturing/system assembly.
"We are establishing a development capability in Dubai for our Consumer Products Group," said Saeid Moshkelani, LSI Logic vice president of Engineering Consumer Products. "We are expanding our development capacity in order to take advantage of the high growth opportunities in the consumer electronics marketplace."
The agreement enables LSI Logic to cost effectively develop consumer electronics products solutions by tapping into the regional pool of engineering design talent and deliver the products to the market in a timely fashion. Dubai's strict stance and enforcement of intellectual property (IP) protection, close proximity to the regional growth markets combined with efficient transport and distribution facilities, corporate tax incentives and exemptions are prime encouragement factors for private sector development. The establishment of 'free zones' such as DSO, has led Dubai to be a business hub for multi-national companies looking for state-of-the-art infrastructure and liberal regulatory framework, which are conducive to quickly and efficiently establishing their hi-tech operations.
