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Politics : Formerly About Applied Materials

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To: Proud_Infidel who wrote (40737)	12/12/2000 2:55:20 PM
From: Proud_Infidel	Read Replies (1) of 70976

Tower picks up investments for chip plant By Bloomberg News December 12, 2000, 11:15 a.m. PT TEL AVIV--Tower Semiconductor has received three new commitments to fund the construction of a $1.3 billion semiconductor plant in Israel. On Tuesday, Israel-based Tower said Israel Corp., which is its principal shareholder, Macronix International and QuickLogic will invest a total of $150 million. Taiwan-based Macronix agreed to invest $75 million. Israel Corp. will put in $50 million. Sunnyvale, Calif.-based QuickLogic pledged $25 million. Tower makes chips to customer specifications. The plant will enable Tower to make 0.18 micron memory chips that can be used in digital cameras and music players. The company expects the plant at its headquarters in Migdal Ha'Emek, Israel, to help increase sales 10-fold to $700 million in five years. Tower previously raised $75 million each from Santa Clara, Calif.-based Alliance Semiconductor and Sunnyvale-based Sandisk. In October, the Israeli government approved a $250 million grant to fund the plant. Copyright 2000, Bloomberg L.P. All rights reserved.

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