Tower targets India, Brazil semiconductor markets

The company will collaborate with its longstanding European nanoelectronics research partner on technology transfer opportunities.

Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) (which markets as TowerJazz) has signed a non-exclusive memorandum of understanding (MOU) with a European nanoelectronics researcher to seek process transfer opportunities and projects in India and Brazil. TowerJazz will supply training, manufacturing know-how, project management and technical support and its partner will supply the intellectual property licenses, supporting services and training.

TowerJazz predicts that the Indian and the Brazilian semiconductor markets will be among the fastest growing markets in the world, and it quotes estimates that the Indian market will reach hundreds of billions of dollars by 2020. The company will collaborate with the nanoelectronics researcher on technology transfer to support this trend.

TowerJazz has collaborated with its European partner in technology transfers for over 15 years with fabless companies and integrated device manufacturers (IDMs) which have end markets in India and Brazil. The companies collaborate on technologies ranging from one micrometer to 32 nanometers, including Micro-electro-mechanical Systems (MEMS).

TowerJazz president Dr. Itzhak Edrei said, “We are extremely pleased with this continued alliance with our European partner to bring together the competencies of both companies to engage in project transfer opportunities in growing markets as India and Brazil. With our TOPS (Transfer Optimization Process Services) business unit, we are well equipped for such activities and look forward to winning many more successful projects."

Tower's share price fell 5.9% on Nasdaq yesterday to $0.73, giving a market cap of $228 million, but rose 0.4% by mid-afternoon on the TASE to day to NIS 2.70.

Published by Globes [online], Israel business news - - on November 17, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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