11.05.2001
Company Visit - Talking merger with Infineon

• ProMos (32.5% Infineon-owned) is in talks to merge with Infineon, which is in turn negotiating the takeover of Toshiba's DRAM division. ProMos is likely to benefit from increased Infineon orders next year. The company also expects to increase global market share to 6% in 2002 (no. 5 ranking). In preparation for the expected surge in business, ProMos has successfully rolled out the world's first 12-inch DRAM wafer volume production line, which has left rivals far behind. Firm expects the fab to produce 15k wafers per month by 3Q02. Additionally, firm will attain 0.14um technology qualification before year-end and acquire 0.11um production process technology from Infineon. We expect ProMos' technology to lead DRAM manufacturers once the industry recovers, likely in 2H02.