© towerjazz Components | August 23, 2017
TowerJazz and Tacoma to build new chip plant in China
Israeli chip company TowerJazz is teaming up with Tacoma Technology Ltd and Tacoma (Nanjing) Semiconductor Technology Co., Ltd (collectively Tacoma) to build a new 8-inch semiconductor fabrication plant in Nanjing.
According to the terms of the framework agreement between the companies, TowerJazz will provide technological expertise together with operational and integration consultation, for which the company shall receive payments based on milestones during the next few years. TowerJazz has already received a first payment of USD 18 million net, rendering phase one of the framework agreement with Tacoma binding. Once production starts at the facility, TowerJazz will be entitled to capacity allocation of up to 50% of the targeted 40,000 wafer per month fab capacity, which it may decide to use. This capacity will provide the Israeli company with additional manufacturing capability and flexibility to address demand. Tacoma will be responsible to source funds for all activities, milestones and deliverables of the entire project, including the construction, commissioning and ramp of this facility. The project is also being fully supported by Nanjing Economic and Technology Development Zone through its Administration Committee, Credito Capital as well as through potential funding from other third party investors and entities.
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