German Infineon seeks 500 mln euros in loan guarantees: report

May 28, 2009

Troubled German semiconductor maker Infineon has asked the government for around 500 million euros (690 million dollars) in loan guarantees, a press report said on Thursday.

Infineon is now in talks with creditors on prolonging and extending loans, but the company's and a forecast 20-percent drop in annual sales put it in a weak position, the Financial Times Deutschland reported.

In September, 50 million euros in will come due, and a total of 600 million euros in payments are supposed to be made by mid 2010, the newspaper said.

Another troubled German group, the retailer Arcandor, was to meet Thursday with government officials to seek 650 million euros in state loan guarantees.

(c) 2009 AFP

Explore further: Snapchat has IPO plan, CEO says

Related Stories

'Collapse' in semiconductor demand hits ASML

Apr 15, 2009

Dutch computer chip equipment maker ASML on Wednesday announced net losses for the first quarter after a collapse in sales, but said it saw signs of improving market conditions.

German high-tech sector holds up: trade group

Mar 02, 2009

Germany's high-tech industry expects to buck the economic crisis this year with sales stagnating but not sinking, its chief lobby group said on Monday on the eve of the giant CeBIT trade fair.

German regulators fine Microsoft for price-fixing

Apr 10, 2009

(AP) -- Antitrust regulators fined Microsoft Corp.'s German subsidiary 9 million euros ($11.8 million) and said the world's largest software maker illegally influenced retail prices for its Office 2007 programs.

Strong sales not leading to mobile profits

Jan 26, 2006

Mobile-phone manufacturers are finding that global demand for handsets is almost insatiable, as consumers in wealthy countries flock to update their phones with the latest multi-functioning products, while those in poorer ...

Recommended for you

Snapchat has IPO plan, CEO says

15 hours ago

The chief of vanishing-image service Snapchat on Tuesday said the company has a plan for going public with an offering of stock but did not reveal when it might happen.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.