Wednesday, October 15, 2003
ProMOS Technologies Corp., Taiwan's second-largest memory chip maker, had profit of NT$864 million in the third quarter, ending two quarters of loss as the DRAM sector gradually pick up and lowered cost due to a new business model.
Sales rose 54 percent to NT$7.30 billion from the NT$4.74 billion recorded during the second quarter. "The recovery of the underlying industry and a change in business model helped push up third-quarter sales," ProMOS Spokesman Albert Lin explained. "The DRAM sector is going back to the seasonal pattern," said Lin. "We're expecting another strong quarter ahead."
Lin revealed that ProMOS will be working with another two companies to establish a 12-inch fab with ProMOS holding at least 50 percent in the new plant. The local memory chipmaker said it is on its way to turning into an independent company by selling products with the ProMOS logo to more customers, including Hewlett Packard Co. and IBM, rather than its parent company Mosel and Infineon Technologies AG. ProMOS, which last year sold about 80 percent of its output to Infineon, sold about 40 percent of production to other contract clients in the third quarter, including Hewlett-Packard Co.
Infineon sold its stake in ProMOS earlier this year after Mosel took control of the unit in a January shareholders's meeting. ProMOS expects to free itself of ties to Mosel in the fourth quarter this year. The company said it has hired an unidentified accounting firm to assess how much ProMOS should pay Mosel to buy patents and other intangible assets.
By: DocMemory
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