AMD President and CEO Hector Ruiz Unveils Plans for Expansion During Visit with Top Government Officials in China
BEIJING--(BUSINESS WIRE)--Dec. 12, 2003--AMD president and CEO Hector Ruiz traveled to Beijing this week where he met with senior Chinese government officials, announced plans to expand AMD's business operations in China through a new wholly-owned subsidiary, and celebrated the donation of an endowment to support two education initiatives for Chinese students.
"China is quickly becoming an economic and technology leader," Dr. Hector Ruiz, president and CEO of AMD commented during his trip. "AMD is committed to supporting the growth of China's overall information technology (IT) market and strengthening our long-term, successful relationships with our customers and partners in China."
Ruiz met with Chinese Vice Premier Zeng Pei-Yan in the Great Hall of the People to discuss China's fast-growing technology industry and AMD's ability to play an active role in promoting China's IT development and expertise through the use of AMD's leading technologies. He also met with Beijing municipal acting mayor Wang Qishan and Xu Ganghua, minister of China's Ministry of Science and Technology.
AMD Strengthens Operations in China
At a press event on Tuesday, Ruiz, Dirk Meyer, senior vice president of AMD's Computation Products Group, and Karen Guo, AMD's corporate vice president and general manager of China, announced plans to establish a new wholly-owned subsidiary, Advanced Micro Devices (China) Co., Ltd. AMD's business continues to grow rapidly in China, and the formation of AMD China, a wholly-owned foreign enterprise, will allow the company to conduct a wider range of business operations in the region. AMD also intends to consolidate its management, staff and operations in China through the new subsidiary.
Enhancing Quality of Life and Education through Technology
During his visit, Ruiz delivered a speech to engineering students at Tsinghua University where he discussed the importance of education and technology as the great enablers of success.
Ruiz announced that AMD has donated 1 million RMB (approximately US$120,000) to help ensure that all primary, secondary and university students in China have the opportunity to receive a quality education and contribute to the future development of China. Half of the donation will go to the China Youth Development Foundation to establish the AMD Westward Hope Fund to support primary and secondary education in Western China and half will go to Tsinghua University to support students and researchers working to develop solutions to current economic issues. This donation is part of AMD's strong global commitment to enhancing the quality of life in the communities in which it operates.
AMD (NYSE:AMD) designs and produces microprocessors, Flash memory devices and system-on-chip solutions for the computer, communications and consumer electronics industries. AMD is dedicated to helping its customers deliver standards-based, customer-focused solutions for technology users, ranging from enterprises to government agencies and individual consumers. Founded in 1969, AMD is a Standard & Poor's 500 company with global operations and manufacturing facilities in the United States, Europe, Japan and Asia.
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