STMicro most likely to buy<br>Intel's Israeli NOR facilities

Intel is in the process of shutting down its chip manufacturing facility in Jerusalem and selling its flash memory manufacturing unit in Qiryat Gat, Israel. The buyer is said to be STMicroelectronics. The prices for the Qiryat Gat facility is estimated to be roughly $1.5 billion USD. Representatives from the companies have not comment up on this. Intel's Jerusalem facility, also known as Fab 8, was the first Intel wafer fab built outisde the U.S. It first opened in 1985. Other sources said earlier this week that Sony Ericsson was interested in buying Intel's flash-memory business in Israel.