Taiwan Memory Co (TMC, 台灣創新記憶體公司) yesterday received the green light for government financial support to develop and manufacture memory chips used in mobile devices in collaboration with local companies, including PC memory chipmaker ProMOS Technologies Inc (茂德).
The approval should help revive TMC, which has been struggling to raise funds after the legislature last year blocked a government proposal to inject NT$8 billion (US$248 million) to finance the formation of TMC as part of its efforts to overhaul the nation’s shaky memory industry.
TMC, which was founded by the government, would get 40 percent of the capital it needs for technology development after passing a review yesterday, an official from the Ministry of Economic Affairs said by telephone.
‘EXTRAORDINARY’
He declined to reveal the specific amount of investment from the ministry, but said TMC was an “extraordinary” case and the government’s investment would not be limited by the NT$30 million ceiling on public investment.
“TMC is set to come out with a new NAND flash memory technology at the end of October as the program is nearing completion,” the official said.
The program would help Taiwan make NAND flash memory chips using home-grown technology and wean local chipmakers away from over-reliance on imports, the ministry said in a statement yesterday.
NAND CHIPS
ProMOS spokesman Ben Tseng (曾邦助) said the chipmaker would help in the manufacturing of NAND flash memory chips, low-density memory chips used for mobile devices such as cellphones in the initial stage.
TMC’s partners also include Elite Semiconductor Memory Technology Inc (晶豪科技) and Photonics Semiconductor Mask Corp (翔準先進光罩), according to the ministry’s statement.
Last year, TMC also secured pledges from private firms, including chip packagers Siliconware Precision Industries Co (矽品) and King Yuan Electronics Co Ltd (京元電), which said their boards had approved plans to invest up to NT$2 billion and NT$300 million respectively to subscribe to TMC shares.
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