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Micron gains 60,000wspm from Inotera share purchase
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With the purchase of Qimonda AGs 35.6 percent ownership stake in Inotera Memories for $400 million, Micron Technology has acquired access to 50 percent of Inotera’s 120,000wspm (wafer starts per month) DRAM memory capacity from two 300mm fabs based in Taiwan. The purchase will also see Micron transfer its Stack DRAM process technology to Inotera as part of the deal with Nanya, Inotera’s other major share holder.
In a separate joint venture operation between Micron and Nanya, dubbed MeiYa, the partners have decided to put on hold the conversion of a 200mm DRAM fab previously used by Nanya to 300mm production.
“This new relationship with Inotera will increase Micron’s competitiveness by further leveraging our current MeiYa joint venture with Nanya,” said Steve Appleton, Micron Chairman and CEO. “Micron will gain greater scale in DRAM, reduce our operating expenses per wafer and have access to a very cost competitive operation.”
Micron is paying the $400 million to Qimonda in two $200 million phases. The first is expected to be conducted in the next week and the second following certain government approvals and other customary conditions. Micron has obtained $285 million in term loan financing commitments from ‘strategic sources’ at favorable terms the company has said.
In a seperate announcement, Qimonda’s 50 percent memory capacity at Inotera will be phased-out over the next 8 months.