Infineon Technologies Savan has been closed and all 39 employees fired.
Sources inform ''Globes'' that German chip giant Infineon Technologies AG (NYSE; XETRA: IFX) recently closed its Israeli R&D center and fired its 39 employees. Infineon Technologies Savan Ltd., located in Netanya, was founded in 1995 to develop ultra-wide band (UWB) technology for broadband wireless connectivity for transmitting heavy multimedia files.
Infineon senior director media relations corporate Gunter Gaugler told “Globes”, “The center developed the next generation of high-speed data transmission over very short distances. At this stage, Infineon decided to focus on product sales and marketing, the profits from which we’ll see very soon. UWB is a future product that does not yet have a standard or market in the foreseeable future, so it was decided to halt development activity in the area at this time. The UWB market is still far off, and Infineon decided to concentrate on areas that can generate profits in the nearer future.”
Infineon Technologies Savan general manager Aviv Malinovich declined to comment on the report.
Published by Globes [online], Israel business news - www.globes.co.il - on February 11, 2007
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