23 January 2009
Infineon sets aside €100million for Qimonda
Shares in Infineon Technologies have fallen 5.6% following the announcement of its DRAM subsidiary Qimonda filing for insolvency.
In preparation against potential liabilities, the German chipmaker is setting aside over €100million for Qimonda, of which it owns 77.5%. This money will be reserved for pending antitrust and securities law claims, as well as potential claims for repayment of government subsidiaries received and ‘employee related contingencies’.
Infineon’s ceo, Peter Bauer, pictured, commented: “Everyone involved fought to the very end in an attempt to save Qimonda. We sincerely regret that these efforts have not ultimately succeeded in achieving the desired outcome and that Qimonda’s employees now face an uncertain future.”
Author
Chris Shaw
Supporting Information
Websites
http://www.infineon.com
http://www.qimonda.com
Companies
Infineon Technologies
Qimonda AG
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