Sale of Altis likely soon - CIOL News Reports

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Sale of Altis likely soon

According to Peter Bauer, CEO of Infineon, it has been planned to turn Altis Semiconductor into a foundry and that the parent companies will guarantee for a certain production volume

Friday, November 20, 2009

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MUNICH, GERMANY: The sale of Altis Semiconductor to a private investor will take place soon, according to IBM and Infineon, the parent companies of Altis Semiconductor.

According to Peter Bauer, CEO of Infineon, it has been planned to turn Altis Semiconductor into a foundry and that the parent companies will guarantee for a certain production volume. However, Altis Semiconductor will have to generate additional revenues as an independent foundry-services provider, Peter Bauer added.

Bauer said Infineon and its joint-venture partner IBM will "fit Altis Semiconductor with a set of good technologies," referring to the embedded flash technology as well as to other technologies to be used in future.

Reinhard Ploss, executive vice-president of Infineon, who is in charge of the chipmaker's production activities, said the closure of the sale deal of Altis Semiconductor is expected within a few weeks, adding that details of the contract will be cleared soon.

Efforts to sell Altis Semiconductor have been going on for the last about 2 years, and many attempts to sell the joint-venture firm to Russian investors had failed.

Now, the buyer is Germain Djouhri, a rather a low-profile entrepreneur, who has agreed to invest €79 million (around $118 million) in the Altis Semiconductor plant.

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