MIGDAL HAEMEK, Israel--(BUSINESS WIRE)--Jul. 15, 2013--
TowerJazz, the global specialty foundry leader, announced today the
extension of its business relationship with International Rectifier
(IR), a world leader in power management technology, by entering into a
seven-year agreement under the terms of which TowerJazz will manufacture
multiple product families for IR.
IR chose to extend its relationship with TowerJazz due to a history of
proven success in working with TowerJazz’s TOPS (Transfer Optimization
and Process Services) business unit; a group with engineering
proficiency and proven models to enable Integrated Device Manufacturers
(IDMs) the shortest qualification time and fastest time-to-market for
moving their manufacturing into high volume foundries. As part of this
latest collaboration, IR will use multiple fabs from TowerJazz. The new
deal with IR will add yet another layer to TowerJazz’s multiple IDM
deals it is currently engaged in.
“IR has enjoyed a strong relationship with TowerJazz, recognizing the
company as an International Rectifier Supplier of the Year 2012 based
upon criteria including alignment of business goals, manufacturing
flexibility and responsiveness. With its goal to be the specialty
foundry leader, TowerJazz continues to meet our business needs and we
are pleased to enter into this agreement,” said Oleg Khaykin, President
and Chief Executive Officer, International Rectifier.
“There is no greater affirmation a company can receive than a valued
lead customer extending an existing agreement. International Rectifier,
from its inception, has an undeniable brand as a power management
leader. We look forward to many more years of partnership as we protect
IR’s intellectual property as well as that of all our other customers,”
said Russell Ellwanger, Chief Executive Officer, TowerJazz.
About International Rectifier
International Rectifier
(NYSE:IRF) is a world leader in power management technology. IR’s analog
and mixed signal ICs, advanced circuit devices, integrated power systems
and components enable high performance computing and reduce energy waste
from motors, the world’s single largest consumer of electricity. Leading
manufacturers of computers, energy efficient appliances, lighting,
automobiles, satellites, aircraft and defense systems rely on IR’s power
management benchmarks to power their next generation products. For more
information, go to www.irf.com.
Trademark Notice
IR® is a registered trademark of
International Rectifier Corporation.
About TowerJazz
Tower Semiconductor Ltd. (NASDAQ:
TSEM)(TASE: TSEM), its fully owned U.S. subsidiary Jazz Semiconductor
Ltd., and its fully owned Japanese subsidiary TowerJazz Japan, Ltd.,
operate collectively under the brand name TowerJazz, the global
specialty foundry leader. TowerJazz manufactures integrated circuits,
offering a broad range of customizable process technologies including:
SiGe, BiCMOS, Mixed-Signal/CMOS, RFCMOS, CMOS Image Sensor, Power
Management (BCD), and MEMS capabilities. TowerJazz also provides a
world-class design enablement platform that enables a quick and accurate
design cycle. In addition, TowerJazz provides (TOPS) Technology
Optimization Process Services to IDMs and fabless companies that need to
expand capacity. TowerJazz offers multi-fab sourcing with two
manufacturing facilities in Israel, one in the U.S., and one in Japan.
For more information, please visit www.towerjazz.com.
Safe Harbor Regarding Forward-Looking Statements
This press
release includes forward-looking statements, which are subject to risks
and uncertainties. Actual results may vary from those projected or
implied by such forward-looking statements. A complete discussion of
risks and uncertainties that may affect the accuracy of forward-looking
statements included in this press release or which may otherwise affect
TowerJazz’s business is included under the heading "Risk Factors" in
Tower’s most recent filings on Forms 20-F, F-3, F-4 and 6-K, as were
filed with the Securities and Exchange Commission (the “SEC”) and the
Israel Securities Authority and Jazz’s most recent filings on Forms 10-K
and 10-Q, as were filed with the SEC, respectively. Tower and Jazz do
not intend to update, and expressly disclaim any obligation to update,
the information contained in this release.
Source: TowerJazz
TowerJazz
Company/Media Contact in US:
Lauri Julian, +1
949-435-8181
lauri.julian@towerjazz.com
or
Investor
Relations:
CCG Investor Relations
Kenny Green, 646-201-9246
towersemi@ccgisrael.com
or
TowerJazz
Investor Relations Contact:
Noit Levi
noit.levi@towerjazz.com