The company contracted with an additional representative company to reach a potential $1.9 billion market.
Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) today announced that it will join with ETesiAN Semiconductor to provide local support for Tower's growing customer base in Europe. Other sales representative firms with which Tower has contacts are Solution in Silicon in the UK and Scandinavia, and EquipIC in the Netherlands. The new European representative office will provide logistic and technical support to Tower's existing customers. It will also work to expand Tower's customer base in the region. Tower claimed that according to a recent McClean report, the European Total Available Market for pure-play foundry in 2007 was $1.9 billion, representing 9% of the world-wide foundry market. Tower currently serves more than 10 customers in Europe, among them several of the top 10 IDM and fabless companies of the region. "Tower has been in production for European customers for more than a decade. The surge in demand for Tower's advanced processes, stemming from new and existing customers, motivated us to expand our sales channels in Europe by teaming up with an additional representative company," said Tower director of Europe sales Jonathan Gendler. Tower recently launched its new Power Management platform in the 0.18-micron technology node. ETesiAN Semiconductor is a rep company with a mission to serve as a one stop shop for the EMEA semiconductor industry by promoting and offering all services and products needed by the fabless and IDM companies for successful design and reliable manufacturing. ETesiAN has offices in Israel and France and partnerships in Germany and the UK.
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2008
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