TAIPEI, March 28 Taiwanese chipmaker ProMOS
Technologies Inc said on Thursday that it has agreed
to sell its 12-inch wafer fab to Silicon Valley-based contract
chipmaker GlobalFoundries, after failing to dispose of the asset
in two previous auctions.
ProMos, whose shares were delisted due to its heavy debt
burden, has not been able to find a buyer for the facility since
2011 to repay loans to banks including Taiwan Cooperative
Financial Holding Co Ltd, Chinatrust Financial Holding
Co Ltd and state-owned Bank of Taiwan.
A banking source told Reuters earlier that ProMOS had hoped
to sell the facility for T$20 billion ($669.42 million).
A company spokesman at ProMOS declined to give details on
the value of the deal.
ProMOS's problems reflect the state of the global dynamic
random access memory (DRAM) industry, which is struggling to
keep afloat amid falling prices, stiff competition and higher
costs of investing in new technology.
Japan's last DRAM chipmaker Elpida Memory Inc
agreed to be bought by U.S. rival Micron Technology Inc