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Taiwan Memory may get NT$30b in state funds

Many foreign investors interested in investing in Taiwan Memory

Taiwan Memory Co., the company being formed by the government to reorganize the island's chip industry, may receive as much as NT$30 billion (US$864 million) in state funds, the official in charge of the project said.
"Many foreign investors, including private equity firms, are interested in investing in Taiwan Memory," John Hsuan, who was appointed last week to oversee the formation of the company, told reporters in Hsinchu, Taiwan, yesterday.
He declined to identify any potential investors.
Taiwan's economic affairs ministry last week announced a proposal to combine six domestic chipmakers under a state-led holding company to help them recover from the computer-memory industry's longest contraction in more than a decade.
“The government will be holding a stake of less than 50 percent, and the smaller, the better,” the Ministry of Economic Affairs said in a statement last week, without identifying the other prospective investors.
Taiwan Memory may merge with Japan's Elpida Memory Inc. or U.S.-based Micron Technology Inc., Economics Affairs Minister Yiin Chii-ming said then.
Hsuan plans to discontinue Taiwan Memory if cumulative losses at the company exceed NT$15 billion, he said.
The honorary vice chairman of United Microelectronics Corp. plans to visit Elpida and Micron in two weeks to discuss patents and intellectual property, he said.

Updated : 2021-05-12 03:57 GMT+08:00