Electronics Production |
Infineon unable to meet Saxony’s conditions for Qimonda aid
Statement: Infineon appreciates both the federal state of Saxony’s offer to support Qimonda with a loan and the high regard for “Buried Wordline” technology that the offer implies. As stated clearly to the state of Saxony at an early point in the negotiations, this requirement exceeds Infineon’s possibilities by a wide margin.
The state of Saxony has offered to grant a loan of €150 million under regular market terms and conditions to help rescue Qimonda. Tied to this offer was the requirement that Infineon make an “unconditional permanent contribution of Euro 150 million in cash”.
“We deeply regret that the state of Saxony has not taken our proposals into account,” says Peter Bauer, CEO of Infineon Technologies AG. “In spite of the extremely difficult situation of the world market and the semiconductor industry, Infineon has offered to provide a loan in combination with the sale of a substantial package of Qimonda shares to the state of Saxony. This offer represents the largest possible burden we can reasonably take on.”
Infineon Technologies AG remains open to further negotiations with the government of the state of Saxony.
