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Nanya to raise funds for joint venture

Nanya Technology Inc (南亞科技), the nation’s second-largest maker of computer memory chips, yesterday said it planned to sell manufacturing equipment to GE Money Taiwan Ltd for US$150 million, paving the way for a planned joint venture with Micron Technology Inc.

When asked whether the deal would be linked to the venture, Nanya spokesman Pai Pei-lin (白培霖) said only: “We have not signed any agreement with Micron. We are preparing.”

After selling the equipment from an 8-inch plant to GE, Nanya planned to buy more advanced equipment to manufacture 12-inch wafers at the plant, Pai said.

Taoyuan-based Nanya said last month it had signed a memorandum of understanding with Micron to form a semiconductor venture to develop chips jointly. The companies are still in talks.

Nanya has booked asset impairment of NT$3.12 billion (US$103 million) for last year for the asset sale to GE, which drove its losses to NT$12.48 billion for last year.

Yesterday, the chipmaker said the losses would increase NT$14.55 million as the local currency rose against the US dollar.

Nanya makes dynamic random access memory (DRAM) chips at a 12-inch plant and makes memory chips for consumer electronics at two 8-inch plants. It also owns a 36 percent stake in Inotera Memories Inc (華亞科技), a memory venture with German Qimonda Technology AG.
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