Electronics Production | January 23, 2009
Infineon may be exposed to significant liabilities following Qimonda insolvency
Following Qimonda’s insolvency filing, Infineon may be exposed to a number of significant liabilities relating to the Qimonda business.
This includes pending antitrust and securities law claims, potential claims for repayment of governmental subsidies received, and employee-related contingencies. We anticipate that the majority of any potential cash obligations we may have in connection with these matters would be payable – if at all – in periods after our 2009 financial year. We intend to increase provisions in our quarterly accounts for the first quarter of fiscal 2009 for pending antitrust and securities law claims, and we anticipate creating additional provisions in connection with those potential liabilities issuing from Qimonda’s business which to us seem probable and which we can estimate at this time. We anticipate that these provisions will be in the lower three-digit million euro range.