News Article
Qimonda looks for help from Saxony
The German state of Saxony may help the troubled chipmaker Qimonda. But the state says Infineon needs to contribute.
The loss making chipmaker Qimonda might get financial help from the state of Saxony but the state insists that its parent Infineon contributes with €150 million.
Saxony's premier, Stanislaw Tillich, said: “Aid for Qimonda is only possible with the collaboration of its owner Infineon.” Saxony has an interest to keep Qimonda functional since it employs approximately 3,200 people in Dresden. “We can not allow the the knowledge for producing memory chips to be lost in Saxony and Europe,” Tillich added.
Infineon, which has spun off Qimonda in 2006, has not yet commented on the rescue move. The company's shares were up 3%.
DRAM chips prices have slumped in the recent past and Qimonda has tried to compensate with cost cutting measures and job cuts.
Saxony's premier, Stanislaw Tillich, said: “Aid for Qimonda is only possible with the collaboration of its owner Infineon.” Saxony has an interest to keep Qimonda functional since it employs approximately 3,200 people in Dresden. “We can not allow the the knowledge for producing memory chips to be lost in Saxony and Europe,” Tillich added.
Infineon, which has spun off Qimonda in 2006, has not yet commented on the rescue move. The company's shares were up 3%.
DRAM chips prices have slumped in the recent past and Qimonda has tried to compensate with cost cutting measures and job cuts.
