TowerJazz to Expand its Worldwide Manufacturing Capabilities with Proposed Acquisition of Maxim Integrated's Wafer Manufacturing Plant in Texas, US
San Antonio Analog Fab to Support TowerJazz's Strong Customer Demand and Enable Additional Manufacturing Flexibility
MIGDAL HAEMEK,
The proposed purchase will expand TowerJazz's current worldwide manufacturing capacity, cost-effectively increasing production by approximately 28,000 wafers per month. The availability of additional capacity is expected to be needed to serve TowerJazz's current and forecasted robust customer demand. TowerJazz and Maxim expect to close the transaction in
As part of the transaction, the companies have also signed a long-term supply agreement for TowerJazz to manufacture products for Maxim in the
All of the site's nearly 500 employees will be retained. The headcount consists of production operators, highly experienced production support personnel and process and integration engineers, the majority of which possess graduate degrees.
The facility can support the advanced analog platforms using geometries down to 130nm and can be used also to manufacture third party products using TowerJazz specialty process technologies. TowerJazz plans to quickly qualify its core specialty technologies, including its advanced Radio-Frequency Silicon-on-Insulator (RF-SOI) offering, to serve the substantial growth in demand from its customers.
"We are very excited about this fab purchase. It will provide a quick solution for our significantly growing customer demand, while gaining additional high quality manufacturing capabilities and global flexibility with the incremental capacity," said Dr.
"We know Maxim very well, having been their supplier for a family of high-end SiGe based products for many years. During this period we have developed an appreciation for Maxim's technical capabilities, business vision and corporate culture. Above all, we built a strong relationship of mutual trust and respect," said
"We needed a trusted partner to manage our proprietary process technology who also shared our commitment to the employees in
About TowerJazz
To provide multi-fab sourcing and extended capacity for its customers, TowerJazz operates two manufacturing facilities in
About Maxim Integrated
Maxim is bringing new levels of analog integration to automotive, cloud data center, mobile consumer, and industrial applications. We're making technology smaller, smarter, and more energy efficient, so that our customers can meet the demands of an integrated world. Learn more at http://www.maximintegrated.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 the businesses of Tower, Jazz, and/or Maxim is included under the heading "Risk Factors" in (i) Tower's most recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the
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For TowerJazz:
Corporate Communications and Investor Relations Contact
Noit Levy-Karoubi
VP, Corporate Communications and Investor Relations
+972 4 604 7066
noit.levi@towerjazz.com
For Maxim Integrated:
Corporate PR Contact
Director, Corporate Communications
LuAnn.Walden@maximintegrated.com
Phone: 408-601-5430
Investor Relations Contact
Managing Director, Investor Relations
Kathy.Ta@maximintegrated.com
(408) 601-5697
Press release (PDF) http://hugin.info/167229/R/1967742/718926.pdf
HUG#1967742