(Yicai Global) Aug. 20 -- China's Siasun Robot & Automation plans to raise CNY1.8 billion (USD260.7 million) in a private placement of shares to help build the production lines for three types of automated devices essential for wafer fabrication, the firm said yesterday.

CNY585 million (USD85 million) of the funds raised will be used to construct lean vacuum manipulators, CNY656 million will used be to make automated materials handling systems, CNY212 million will be for material control systems and the remaining CNY350 million will supplement the company's working capital, it said.

Building these production lines means a lot in terms of breaking overseas firms' monopoly on technology and satisfying growing domestic demand, it added.

These three systems are core equipment for plants that process semiconductors and wafers, the firm said, adding that they are directly associated with the yield, efficiency and safety of chipmaking.

The Shenyang, northeastern Liaoning province-based robot developer expects a return of around CNY1 billion (USD144.5 million) a year for the vacuum manipulators business, CNY1.2 billion for its AMH line and CNY180 million for its MCS. It will take two to three years for all three projects to be up and running, it said.

Siasun Robot [SHE:300024] closed up 2 percent today at CNY15.33 (USD2.22).

Editor: Kim Taylor