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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