Qimonda (subsidiary of Infineon) files Chapter 11

Discussion in 'Stocks' started by ByLoSellHi, Feb 21, 2009.

  1. Fourth-biggest maker of DRAM memory chips:


    Qimonda U.S. units file for Chapter 11 bankruptcy
    Fri Feb 20, 2009 4:40pm EST

    NEW YORK, Feb 20 (Reuters) -
    Two U.S. units of insolvent German memory chipmaker Qimonda AG (QMNDQ.PK) filed for Chapter 11 bankruptcy protection in the United States on Friday, according to court documents.

    Qimonda Richmond LLC and Qimonda North America filed their petitions for bankruptcy protection in the U.S. bankruptcy court for the district of Delaware.

    Qimonda North America listed assets in excess of $1 billion and liabilities in excess of $1 billion.

    Qimonda filed for insolvency in January as a result of huge industry price drops and a global financing squeeze, but said it hoped to continue operations. The company is the world's fourth-biggest maker of DRAM memory chips, used mainly in PCs.

    It announced earlier this month that it would shut down its U.S. plant. (Reporting by Emily Chasan; editing by Richard Chang) (emily.chasan@thomsonreuters.com; +1 646 223 6114; Reuters Messaging: emily.chasan.reuters.com@reuters.net)
  2. No surprise here. As expected.
  3. Arnie