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Electronics Production | December 16, 2009

Qimonda Portugal to emerge from insolvency by end of 2009

The insolvency proceedings for Qimonda Portugal will be closed by end of 2009 and Nanium S.A. will emerge as an independent company within the semiconductor market.
The restructuring of the chip manufacturer is almost finished and some important decisions and solutions have been made:

• New shareholder structure: 18% will be owned by the Portuguese State (represented by investment organization AICEP), 41% each will be owned by the two biggest Portuguese private banks, Banco Espírito Santo, S.A. (BES) and Banco Comercial Portugues, S.A. (BCP)

• The new company governance will have a Supervisory Board of 5 members (one representing the Portuguese State, two each from BES and BCP) and will retain the current Management Board

• A new and revised business plan was approved

• Workforce adjustment have already been completed

“The product portfolio will be much wider, and the number of different customers will increase. First projects with new customers and co-operation partners have been started”, a company statement reads.

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