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Electronics Production | September 29, 2008

Qimonda close to insolvency?

Speculations are running wild that Qimonda is heading for insolvency and the company's shares drop sharply as worries increase about the company’s liquidity.
Rumours have it that the management might have missed the chance to sell assets at a reasonable price and thus insolvency is becoming a real threat. “We see insolvency as a very real possibility, with Micron the most immediate beneficiary as it should have the opportunity to snap up assets at fire sale prices,” said analyst Daniel Berenbaum at investment banking firm Cowen and Company to EDN. Should Qimonda file for bankruptcy protection, Mr Berenbaum expects the manufacturing facilities in Dresden and Richmond (USA) to close down temporarily.
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