Numonyx ups its stake in Hynix JV fab

News reports quoted a filing by Hynix with the Korea Exchange that its stake in the Wuxi plant will fall to 72.3% from the current 83.3% following the transaction.

By Ann Steffora Mutschler, Senior Editor -- Electronic News, 9/25/2008

After inking a five-year NAND development agreement last month, news reports are circulating that South Korea-based memory giant Hynix Semiconductor Inc is selling part of its stake in its 300-mm Wuxi, China joint venture fab to partner Switzerland-based Numonyx BV for $100 million by the end of this year.

News reports quoted a filing by Hynix with the Korea Exchange that its stake in the Wuxi plant will fall to 72.3% from the current 83.3% following the transaction.

The Wuxi fab began as a joint venture between Hynix and STMicroelectronics in 2005 to make NAND flash on 200-mm wafers, while Hynix produced DRAM for the Chinese market on 300-mm wafers. Numonyx took over the partnership when Intel and STMicroelectronics officially launched their memory operations in March. The 200-mm production equipment in the Wuxi fab was put up for sale in September 2007.

Numonyx spokesperson Mark Miller said, “This is another investment infusion into the Hynix JV where Numonyx would own 1/3 stake in the Hynix China Wuxi fab.”