Here's a brief news follow up on the previous announcement.
January 13, 1999 19:55
Energy Conversion, former Micron exec in venture
TROY, Mich., Jan 13 (Reuters) - Energy Conversion Devices Inc. said Wednesday it formed a joint venture company with Tyler Lowrey, former vice chairman of Micron Technology Inc. , to develop semiconductor memory technology.
Energy Conversion said in a statement that the company, as yet unnamed, will focus on Ovonic Universal Memory, a thin-film nonvolatile solid-state memory.
Terms of the joint venture agreement were not disclosed.
"Stan Ovshinsky and ECD have synthesized various thin-film materials with highly desirable properties that we can leverage to pursue significant competitive advantage in the microelectronics marketplace," Lowrey said in a statement, referring to ECD's president and chief executive Stanford Ovshinsky.
ECD also said Lowrey was appointed to its board of directors.
In late trading on Nasdaq, Energy Conversion shares were up 3/4 at 10
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