Micron Technology, Inc. (MU) said that it signed an agreement with Nanya Technology Corp. to create MeiYa Technology Corp., a new DRAM joint venture.As part of the joint venture, a 200 millimeter Nanya manufacturing facility in Taiwan will be upgraded to 300 millimeter technology beginning this year, with the facility coming online for production in 2009. In addition to MeiYa, the parties will jointly develop and share future technology, Micron noted.Further, both parent companies will own 50% of the joint venture initially, and each will contribute US$550 million in cash by the end of 2009. The transaction, which is subject to customary closing conditions, including regulatory approval in Taiwan, is expected to close within the next few months.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.