Infineon looking for a bailout

Posted on Friday, May 29 2009 @ 1:11 CEST by Thomas De Maesschalck

EE Times reports German memory maker Infineon has applied for state aid, the company reportedly wants a government guarantee worth 500 million euros.

Ailing Chip maker Infineon queues up with many companies currently asking for state aid. According to Financial Times Deutschland, the company has applied for a guarantee worth €500 million (about $693 million).

With its statement, the paper refers to sources near the company. Infineon was not available to comment.

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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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