Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Tower expands business with International Rectifier

The new agreement is estimated to be worth hundreds of millions of dollars.

Tower Semiconductor

/ By Hillel Koren /

Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) (which trades as TowerJazz) has announced the extension of its business relationship with power management technology company International Rectifier (IR), through a seven-year agreement under which Tower will manufacture several product families for IR at its fabs in Japan (Fab 4) and in Migdal Ha’emek.
IR chose to extend its relationship with Tower after success in working with Tower’s TOPS (Transfer Optimization and Process Services) business unit; a group with engineering proficiency and proven models to enable Integrated Device Manufacturers (IDMs) the shortest qualification time and fastest time-to-market for moving their manufacturing into high volume foundries.
“IR has enjoyed a strong relationship with TowerJazz, recognizing the company as an International Rectifier Supplier of the Year 2012 based upon criteria including alignment of business goals, manufacturing flexibility and responsiveness. With its goal to be the specialty foundry leader, TowerJazz continues to meet our business needs and we are pleased to enter into this agreement, ” said Oleg Khaykin, president and CEO of International Rectifier.

“There is no greater affirmation a company can receive than a valued lead customer extending an existing agreement. International Rectifier, from its inception, has an undeniable brand as a power management leader. We look forward to many more years of partnership as we protect IR’s intellectual property as well as that of all our other customers, ” said Tower CEO Russell Ellwanger.

The current deal represents one of Tower’s most important agreements, and is expected to generate revenue in the hundreds of millions of dollars. According to market estimates, annual revenue under the agreement will be $50-70 million in the period 2014-2020.
Published by www.globes-online.com 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Advertisement