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Semiconductor Wafer Shipments To China 

The Department of Commerce's Bureau of Industry and Security (BIS) imposed a civil penalty of $500,000 against GlobalFoundries Inc. (NASDAQ:GFS) last Friday. The penalty is related to shipments of semiconductor wafers valued at approximately $17.1 million to SJ Semiconductor, a China-based company on the BIS Entity List. 

The BIS said GlobalFoundries voluntarily disclosed the shipments and cooperated with the investigation which led to the significantly reduced fine. 

"We want U.S. companies to be hypervigilant when sending semiconductor materials to Chinese parties," said Assistant Secretary for Export Enforcement Matthew S. Axelrod. "And when, as here, that vigilance falls short and semiconductor materials have gone where they shouldn't, we want companies to make voluntary disclosures, remediate, and cooperate with us."

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