Spansion, SMIC sign foundry agreement

NEW YORK, Oct 23 (Reuters) - China's biggest chipmaker Semiconductor Manufacturing International Corp (0981.HK: Quote, Profile, Research, Stock Buzz) and U.S. chipmaker Spansion Inc (SPSN.O: Quote, Profile, Research, Stock Buzz) will partner on some chips in China, the companies said on Tuesday.

The companies have also signed a preliminary memorandum of understanding which would allow SMIC a license to manufacture and sell some Spansion products.