Infineon Cancels ProMOS Shareholder Agreement with Mosel Vitelic
Simultaneously, the product purchase agreement which establishes the rights of both partners to purchase products from ProMOS will terminate. ProMOS can currently only manufacture its products under a license agreement with Infineon. Therefore, Infineon intends to negotiate a new supply agreement with ProMOS.
Notwithstanding the termination of the shareholders agreement Infineon remains to be a major shareholder in ProMOS and is strongly represented in the board of directors of ProMOS which enables Infineon to support ProMOS interests.
Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions for applications in the wired and wireless communications markets, for security systems and smartcards, for the automotive and industrial sectors, as well as memory products. With a global presence, Infineon operates in the US from San Jose, CA, in the Asia-Pacific region from Singapore and in Japan from Tokyo. In the fiscal year 2001 (ending September), the company achieved sales of 5.67 billion euros with about 33,800 employees worldwide. Infineon is listed on the DAX index of the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at www.infineon.com.