 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
German chipmaker Qimonda files for insolvency: court
Berlin (AFP) Jan 23, 2009 Troubled German chipmaker Qimonda filed for insolvency protection Friday after talks to secure additional rescue funding collapsed, a court spokeswoman in Munich said. The company in December secured a 325-million-euro (450-million-dollar) rescue package from the German state of Saxony, the federal government and a Portuguese development bank and Qimonda's majority shareholder Infineon. But sources told Dow Jones Newswires on Thursday that the firm, which has been in trouble since before the global economy hit the rocks, still needed another 300 million euros to be able to continue operating. An additional 280 million euros in guarantees from the federal government and from Saxony, the eastern state where the firm is a major employer, were also contingent on its raising the funds. The economically depressed east state of Saxony, where Qimonda is a major employer, refused to put up another 150 million euros and talks in Berlin with Chancellor Angela Merkel's federal government also reportedly failed. Media reports said that firm had been unable to present a convincing concept of how it intended to survive. Qimonda makes dynamic random access memory (DRAM) semiconductors, but it has struggled to compete against larger rivals and stiff competition from Asia, where production costs are lower. Prices for the chips are also highly volatile. Infineon, a former subsidiary of German industrial conglomerate Siemens, last month issued a highly gloomy report for itself and Qimonda, notching up a loss of three billion euros for its financial year ending September 30. In October Qimonda said it was cutting almost a fifth of its workforce or 3,000 jobs. Related Links Computer Chip Architecture, Technology and Manufacture Nano Technology News From SpaceMart.com
Net loss for AMD for ninth straight quarter
Washington (AFP) Jan 22, 2009Advanced Micro Devices (AMD), the world's second-largest computer chip maker, reported a net loss on Thursday for the ninth quarter in a row. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement |
