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Technology Stocks : WDC/Sandisk Corporation

WDC 218.12

+16.1%

1:51 PM EST

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To: Ausdauer who wrote (13312)	7/25/2000 8:07:08 PM
From: Binx Bolling	of 60323

"Yediot Ahronot": M-Systems of Israel Negotiating Partnership in New Tower Semiconductor Plant in Migdal Ha'emek By Globes' correspondent The "Yediot Ahronot" daily reported that Nasdaq-listed M-Systems of Israel is negotiating with the Israel Corporation for a partnership in the new Migdal Ha'emek plant of semiconductor manufacturer Tower Semiconductor. A $1.5 billion investment in the plant is planned. Negotiations are taking place between M-Systems general manager and part owner Dov Moran and Israel Corporation and Tower Semiconductor chair Idan Ofer. Two weeks ago, SanDisk of the US, the world leader in the manufacture of flash memory chips, announced it was acquiring 10% of Tower Semiconductor for $75 million and becoming a strategic partner. SanDisk plans to purchase components from the new plant. The Israel Corporation announced its intention of adding three more investors, who would receive a total of 30% in Tower Semiconductor. M-Systems of Israel, which also operates in the field of flash memory chips, is traded at a value of $721 million. Its revenues were up 246% in the second quarter of 2000. Published by Israel's Business Arena on July 24, 2000 globes.co.il

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