Macronix considering major investment in Tower

A visiting delegation from Taiwan is interested in nanotechnology investments, Israeli start-ups, and technology.

10 July 03 17:43, Hadas Manor

Taiwanese company Macronix International, which has already invested $75 million in Tower Semiconductor’s (Nasdaq: TSEM) Migdal Ha’emek fab, is considering an additional investment of tens of millions of dollars. Company representatives notified Minister of Industry, Trade, and Labor Ehud Olmert and Taiwan Economics Minister Lin Yi-fu.

At the meeting, Macronix president Miin Wu said the company had already invested $100 million in Israeli companies. The chairman of the Teco electronics company, senior executives from the chemical and plastics industries interested in investments in advanced nanotechologies, and leading figures from venture capital funds that have previously invested in Israeli start-ups also participated in the meeting.

Ministry of Trade, Industry, and Labor depute director general of Foreign Trade Administration Ronit Kan told “Globes” that in recent years, the number of Taiwanese venture capital firms investing in Israeli start-ups had increased. These firms had invested an estimated $100 million in Israeli start-ups, both directly, and through Israeli venture capital firms.

Later in his visit, Lin will also meet the Minister of Science, Culture, and Sports, and the Minister of Agriculture and Rural Development, and visit Israeli technology incubators and companies with business ties in Taiwan.

Published by Globes [online] -l www.globes.co.il - on July 10 2003