Germany's Infineon needs state guarantees: report

Apr 19, 2009

German chip maker Infineon is in negotiations with the government over state guarantees worth several hundred million euros (dollars), the Welt am Sonntag paper reported Sunday.

Citing sources close to the talks, the paper said chief executive Peter Bauer and Marco Schroeter have been in long-standing contact with Chancellor Angela Merkel's office over possible state aid.

An Infineon spokesman could not be immediately reached for comment, but the Welt am Sonntag said the company had denied the report.

The has seen its turnover plummet as demand has slumped in the auto and telecommunications sectors.

In February, Infineon said it had suffered a net loss of 404 million euros (517 million dollars) in the three months from October through December.

The firm also said that sales would likely decline by 10 percent in the current quarter.

The group reinforced a programme designed to cut costs, introducing partial measures for some 9,000 employees and trimming its executive bonus programme.

(c) 2009 AFP

Explore further: Japan's NTT to buy German data centre operator

add to favorites email to friend print save as pdf

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.

Google execs collect bonuses

Mar 03, 2009

Bonus may be a dirty word on Wall Street right now, but end-of-year cash is still being handed out in Silicon Valley.

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.

National Semiconductor to cut 1,725 jobs

Mar 11, 2009

(AP) -- Faced with a steep decline in sales, chip maker National Semiconductor Corp. said Wednesday it will eliminate more than one-quarter of its work force, or 1,725 jobs.

Recommended for you

Japan's NTT to buy German data centre operator

14 hours ago

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

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.