Infineon CEO won't comment on timing of sale of further Qimonda shares |
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Mon, 29 Jan 2007 12:36
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MUNICH (AFX) - Infineon Technologies AG chief executive Wolfgang Ziebart did not comment on the company's timeframe for the sale of additional shares in its Qimonda AG business during a teleconference with journalists.Infineon listed 14 pct of the company last August, and the 190 day lock-up period on its remaining stake expires Feb 14.The chief executive said the sale would be determined by three factors, 'the situation in the DRAM market, Qimonda's performance and our need for financing.'Ziebart also said it was are asonable' for Infineon to consider making acquisitions to expand in certain business areas. He did not name any specific takeover targets.In addition, he said Infineon had reached an agreement with Qimonda under which the DRAM subsidiary will continue to produce memory products at an Infineon-owned 200 mm wafer plant in Dresden until September 2009.Originally, the production agreement was scheduled to expire in September 2007, and IG Metall union officials feared this would lead to considerable job cuts.alfred.kueppers@afxnews.comamk/lamCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Infineon swings to Q1 EBIT of 216 mln eur from yr-earlier 122 mln loss 