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GlobalFoundries fined $500,000 by US export controls office over shipments to listed firm

( November 1, 2024, 23:35 GMT | Official Statement) -- MLex Summary: GlobalFoundries US Inc., a semiconductor wafer manufacturing company headquartered in Malta, New York, was fined $500,000 by the US Commerce Department's Bureau of Industry and Security (BIS) over shipments valued at approximately $17.1 million to SJ Semiconductor, a company on the entity list without the requisite license or other authorization from BIS. GlobalFoundries voluntarily disclosed the conduct, cooperated with an investigation and took remedial measures after discovering the conduct at issue, which resulted in a significant reduction in the penalty, the agency said.Statement follows below:...

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