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Qimonda Portugal with a new name

The insolvent chip manufacturer Qimonda Portugal is looking for another name and fresh money for a new start.

November 26 2009, 12:20 PM

ComponentsThere is hope again for Qimonda Portugal. Positive signs have emerged at a new creditors’ meeting, reported local media. A total of three partners have agreed on a new strategy: the state Portugal will hold a 18% share in the new company, BCP and BES will share the remaining 82% (each holding 41%).

Qimonda Portugal is also looking for a new name - the favourite currently being Nanium. Around 770 former Qimonda employees are said to be able to return to work over the next 18 months.

TT Electronics profit down

ComponentsFor the year ended 31 December 2009, UK based TT Electronics revenue was £499.6 million (2008: £584.3 million), down 14.5 per cent.

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