Time is running out for Qimonda

Posted on Tuesday, May 12 2009 @ 19:32 CEST by Thomas De Maesschalck
EE Times reports insolvent German memory maker Qimonda still hasn't found an investor that has showed substantial interest yet, and that time is running out. Insolvency administrator Michael Jaffé is going to give the DRAM maker until the end of the month before continuing with insolvency proceedings and liquidating the company.
Apparently, the Russian card hitherto did not win the trick. "According to what we have heard from Mr. Jaffé, no investor has showed substantial interest in Qimonda," a participant of the meeting said. Similarly, Chinese investors that were in talks earlier also have failed to put anything tangible onto the table. Now the insolvency administrator has asked them to substantiate their interest by end of May at latest. Otherwise, he will be forced to continue with the insolvency proceedings, he said according to the source. "Which means that liquidation becomes more and more the likely outcome."

Hoping for an investor for the entire company, the insolvency administrator so far had kept the Qimonda infrastructure together, but this strategy becomes increasingly difficult to support. Currently the fab is in stand-by mode which however requires significant financial resources.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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