Vimicro to Acquire New Premises in Beijing
05 3월 2007 - 9:30PM
PR Newswire (US)
BEIJING, March 5 /Xinhua-PRNewswire/ -- Vimicro International
Corporation (NASDAQ:VIMC), a leading fabless semiconductor company
that designs and develops multimedia semiconductor products and
solutions, recently entered into an agreement to acquire the
land-use right for approximately 17,300 square meters of land in
Haidian District, Beijing. The land will be the site of a new
building, which will become the company's new headquarters and
accommodate a research and development center. The aggregate
consideration for the acquisition of the land-use right and the
construction of the new building is approximately RMB298 million to
be paid in installments. Vimicro will be required to obtain
necessary governmental approvals for the proposed project. It is
estimated that the construction of this new building will be
completed by 2009. About Vimicro International Corporation Vimicro
International Corporation is a worldwide leading fabless
semiconductor company that designs, develops and markets
proprietary embedded multimedia signal processing chips and
solutions that enable multimedia applications for mobile phones
over 2.5G/3G networks and PCs over broadband Internet. Vimicro's
ADSs, each of which represents four ordinary shares, are currently
trading on the NASDAQ global market under the ticker symbol "VIMC."
DATASOURCE: Vimicro International Corporation CONTACT: Investor,
Leanne Sievers/Ryan Bright of Shelton Group, for Vimicro, or
+1-949-224-3874, or +1-972-239-5119 x159, or , or Web site:
http://www.vimicro.com/
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