Top Ten Capex Spenders This Year

Thanks to Barcap for this one – the top ten capex spenders this year:

Samsung            13


Intel                    12.5


TSMC                  7.0


Hynix                   3.5


GloFo                  3.4


Toshiba                 2


Micron/IM Flash 1.8


SanDisk               1.5


ST                        1.5


Infineon               1



  1. Yes indeed, Robert, but TI has bought a lot of new manufacturing capacity in the last couple of years acquiring bankrupt fabs and equipment e.g. Qimonda, Spansion, so doesn’t need to spend more until that is fully utilized. With ST the policy has been to gradually outsource more production. It certainly hasn’t grown much since Pistorio left. Revenues were just under $9 billion the year he retired – 2005 – and were under $10 billion last year.

  2. I don’t see either TI’s or STM’s names in the top ten for Capex.
    Hmmm wonder what information can be gleaned from that omission. Historically capex reductions always preceded revenue reductions. But as they say times are different now.

  3. Ah yes, you’re probably right Phil, that would be in their financial statements for the past five and a half years 2006-11 compared with the figure in 2005. I don’t carry the information in my head but it’s easily found on the web.

  4. Was R2D2’s comment on how much NXP and Freescale spent not directed at what their capex spend is/was, rather than how much the PE guys paid for them? I think he wants to know if PE-run companies spend next to nothing on capex… ?

  5. In NXP’s case practically the whole of the pruchase price was debt, Mark, but in the freescale case Blacksotne put up a large chunk of their own cash – several billion – although the much bigger valuation in the freescale case meant that the overall amount of debt in the Freescale case was greater than in the NXP case

  6. But remember, like most PE deals, these were leveraged buyouts and in the case of NXP the PE partners paid €3,451 million for 80.1% of NXP (Philips retained 19.9%).

  7. The debt was $16 billion – $10 at Freescale and $6 billion at NXP and the valuations were $17 billion at Freescale and $10 billion at NXP

  8. Anyone know how much the PE boys running NXP and Freescale spent?

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