Tower Semiconductor signs Shanghai collaboration

Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) has signed a memorandum of understanding (MOU) with Shanghai ICC (Shanghai IC Technology & Industry Promotion Center) to establish an exclusive partnership, expanding Tower's business opportunities in China. Tower will offer its mixed-signal CMOS and power technologies to provide technical and manufacturing capabilities to Shanghai ICC’s customers.

Shanghai ICC is a non-profit organization established by the Shanghai Municipality and the Chinese government to foster the country's emerging integrated circuit (IC) companies.

Tower added that it has made a strong commitment to the China IC market with a sales and technical office in Shanghai. Through the partnership with Shanghai ICC, Tower will have access to Shanghai ICC’s technical support and broad access to emerging China IC companies and other local potential customers.

“We are very pleased to partner with Shanghai ICC. This is an extremely good fit for both companies. The combination of their technical support with our specialty offerings will enable superior solutions for emerging China IC companies. We look forward to working closely with Shanghai ICC and their customers to help advance the China market,” said Tower China country manager Lei Qin.

Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2013

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