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Electronics Production | March 27, 2009

Qimonda Portugal also insolvent

Yesterday, the Portuguese subsidiary of German memory chip manufacturer Qimonda had to file for insolvency. This means that the facility in Vila do Conde will probably be closed down, Portuguese media reported.
However, the management is trying to save the location and the company, the reports continued. They are now primarily focussed on possible restructuring plans that will help secure the 1300 jobs at the facility in Vila do Condo. The difficult situation within the global DRAM market was given as reason for the insolvency filing.

As reported earlier, Portugal had promised to help the entire Qimonda group with an unspecified double-digit percentage figure - providing that the facility in Vila do Conde would be maintained.

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