10.22.2001
ProMos gaining ground in DRAM production

• ProMos is expecting the industry situation to improve by 2H02. Firm manufactures world’s first 12-inch DRAM wafer, which began volume production in Oct. 12-inch fab will likely operate at 20% cost down to current 8-inch fab production - ProMos originally claimed 30% cost down advantage. Capacity for new fab remains at 9k wafers per month in 2Q02. Although outlook for DRAM industry still weak, ProMos will retain strong technology support from Infineon. We maintain our view on this counter, as ProMos will likely stay in the game.