Feeds

Hynix creditors to vote on China DRAM fab plan

Green light expected for STMicro JV

  • alert
  • submit to reddit

Combat fraud and increase customer satisfaction

Hynix will today get the green light from its creditors for its scheme to build a $1.75bn DRAM fab in China.

The fab will be co-funded by European chip maker STMicroelectronics, and has been the subject of talks that have taken place between the two firms for most of the year.

It's this co-operation that appears to have persuaded Hynix' creditors to OK the deal having originally been opposed to it. The creditors own around 80 per cent of the memory maker. Today, it is believed, they will formally give the JV their blessing through a vote on the proposal.

"We expect to get approval for the plan this time, as several main creditors have changed their position to support it," an official at one of Hynix' creditor banks told the Financial Times this week.

if the plan goes ahead, Hynix and STMicro will both put $500m into the project, with Chinese banks and institutions tossing in a further $750m.

Hynix is on a roll right now, having broken its profitability records during Q2 on sales that pushed the company past Micron to take world number two DRAM maker spot.

However, the company also faces the prospect of an official Japanese Finance Ministry enquiry into the alleged unlawfulness of the rescue funding its creditors have pumped into it at the turn of the Century. ®

Related stories

Japan to probe Hynix DRAM dealings
Hynix overtakes Micron in world DRAM chart
Hynix reports record profit
Hynix creditors rethink China DRAM plant plan
STMicro confirms Hynix JV talks
Hynix cashes in its chips
Hynix, STMicro plot Chinese DRAM JV

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.