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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Art Bechhoefer who wrote (20310)	5/22/2001 10:11:13 AM
From: Sam	Respond to of 60323

Israel's Tower gets $44.7 million TEL AVIV, May 22 (Reuters) - Israel's Tower Semiconductor said on Tuesday it received the third instalment of a total $305 million investment committed to its new computer chip plant by its partners. Of the $44.7 million instalment, $21.4 million is a credit to be applied as prepayment of 15 percent of the price of future wafer purchases from the plant. In connection with the instalment, the equity partners received 1.87 million additional ordinary shares in Tower as follows: SanDisk Corp (Nasdaq:SNDK - news), Alliance Semiconductor (Nasdaq:ALSC - news) and Macronix International (Nasdaq:MXICY - news) each received 366,690 shares; QuickLogic Corp (Nasdaq:QUIK - news) received 122,230 shares; the Israel Corp received 586,667 shares; and the Challenge Fund received 58,667 shares. To date the partners have invested $170.8 million, of which $99.6 million is paid-in-capital against the issuance of 7.7 million ordinary shares and $71.2 million is in credits. Tower recently began constructing a $1.6 billion plant in northern Israel to produce up to 33,000 200-mm wafers per month in geometries of 0.18 micron and below. Tower is an independent wafer manufacturer focused on advanced flash memory.