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TMC files plan to help restructure DRAM industry
STAFF WRITER, WITH CNA AND BLOOMBERG
Wednesday, Aug 05, 2009, Page 11
Newly established Taiwan Memory Co (TMC, ¥xÆW³Ð·s°O¾ÐÅ餽¥q) filed its business plan with the Ministry of Economic Affairs to participate in a government project to restructure the dynamic random access memory (DRAM) industry, Vice Minister of Economic Affairs Hwang Jung-chiou (¶À«²y) said yesterday.
The ministry first raised the idea of setting up the TMC in March as part of efforts to consolidate Taiwan¡¦s ailing DRAM industry. The company recently completed its establishment, with registered capital of NT$500,000 (US$15,250).
John Hsuan («Å©ú´¼), honorary vice chairman of United Microelectronics Corp (UMC, Áp¹q), was named chairman of the company, according to a document posted on the ministry¡¦s Web site. Hsuan will hold 98 percent of the company¡¦s paid-in capital, the data showed.
The document said four people were on the Hsinchu-based company¡¦s board. Beside Hsuan, the other three directors are Compal Electronics Inc (¤¯Ä_) consultant Deng Ke-wen (¾H§J¤å), UMC consultant Feng Tai-sheng (¶¾¥x¥Í) and Silicon Integrated Systems Corp (ª¿²Î¬ì§Þ) finance director Eric Chen (³¯¶iÂù).
Under a project unveiled last month, the government will allocate a maximum of NT$30 billion to help one or two local DRAM companies to compete with their foreign counterparts, particularly those in South Korea.
The government is reviewing TMC¡¦s application for public funding, Hwang said. He would not disclose the amount of investment requested by TMC.
¡§TMC is a bellwether, and we hope it will pass the screening,¡¨ Huang said.
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