Jenoptik Group wins major order from Israel for around 400 million DM
The Jenoptik subsidiary M+W Zander is to construct a chip factory for TOWER Semiconductor in Israel. Third major order for the construction of a turnkey chip factory this year.
The technology group JENOPTIK AG, Jena, has been awarded a major order from Israel. The Jenoptik subsidiary M+W Zander together with the Israelian joint venture-subsidiary Meissner Baran is to construct a new turnkey chip factory, Fab 2, for TOWER Semiconductor (NASDAQ: TSEM). The size of the order is around 400 million DM.
This is already the third major order which M+W Zander has won this year for the turnkey construction of a chip factory. M+W Zander is building the Fab 7 for Chartered Semiconductor Manufacturing in Singapore and the new 300 millimetre Fab for Infineon in Dresden.
Construction work to commence before the end of this year.
As general contractor for TOWER, M+W Zander will undertake the design, planning and construction of the plant. The aim is to cut the turf for this TOWER project before the end of this year, following the approval of a grant from the Israeli government and securing the required financing. Implementation will take place in three stages.
Each stage will be authorized by Tower separately. According to TOWER Semiconductor M+W Zander was awarded the contract for this project because the company has been acknowledged worldwide for many years as a leading specialist in wafer fab manufacture.
The new fab is intended to employ around 1,000 personnel and produce 33,000 wafers a month. It is planned to manufacture 200 millimetre wafers.