Tower Semiconductor Ltd. (TSEM) announced today that its fully owned Japanese subsidiary TowerJazz Japan, LTD. signed a Memorandum of Understanding (MOU) with Samsung Electro-Mechanics to develop and volume produce a variety of product families based on TowerJazz’s 700V (TS100PM) power management process. The first products are expected to be in the market in the second half of 2012.
“We chose to work with TowerJazz on our next-generation of high voltage products because of their superior 700V technology which is unrivaled by other foundries. We were looking for a true partner who would be committed to our success and provide excellent support and the required manufacturing capacity,” said Samsung Vice President Dr. Jae Shin Lee. “TowerJazz is well-known in Korea, especially in the power management market, and we are looking forward to our collaboration on many high volume products.”
Moreover, TowerJazz’s Chief Executive Officer, Mr. Russell Ellwanger, will present at the Annual Rodman & Renshaw Global Investment Conference. TowerJazz is scheduled to present in the Sutton Suite at 11:15am Eastern Time on Tuesday, September 13, 2011.
Tower Semiconductor Ltd.
Ramat Gavriel Industrial Area
P.O. Box 619
Migdal Haemek 23105
Israel
Tel: 972 4 650 6611
Fax: 972 4 654 7788
TowerJazz USA Subsidiary
Jazz Semiconductor
4321 Jamboree Road
Newport Beach, California 92660
USA
Tel: 949-435-8000
Fax: +949-435-8757
TowerJazz manufactures integrated circuits for more than 150 customers worldwide. Company’s vision is to be the world leader in specialty foundry solutions as measured by its customers, employees and investors. TowerJazz achieved the highest percentage of growth in 2010 vs. 2009. By further accelerating company’s growth rate in 2011, TowerJazz meets its goal to become the #1 specialty foundry.
