“We look forward to increased manufacturing capacity through our foundry relationship with IBM to help meet the growing demand for Ramtron’s unique F-RAM semiconductor products,” said Bob Djokovich, Ramtron chief operating officer. “This new world-class foundry will provide a flexible and cost effective manufacturing platform for our new product development initiatives, which will drive new market opportunities for Ramtron. We have high confidence in IBM Microelectronics and believe that the addition of their process development and foundry services will help Ramtron serve the future needs of F-RAM customers around the world.”
“We are pleased to help facilitate the expansion of Ramtron’s F-RAM product offerings,” said John DiToro, vice president, semiconductor manufacturing, IBM Systems and Technology Group. “The vast array of IP blocks available through IBM foundry services can provide Ramtron with a great deal of product development flexibility. We look forward to working with Ramtron to help the company reach its manufacturing and product development objectives.”
The company anticipates generating the first production wafers during 2010 on the IBM 0.18-micron wafer manufacturing process. IBM will become the company’s third foundry supplier for F-RAM semiconductor products, along with Fujitsu Limited and Texas Instruments Incorporated.
Along with the foundry agreement, the company is in process of establishing an $11 million loan facility through the Silicon Valley Bank to fund capital and development costs in connection with foundry relationship with IBM. Additionally, the company is working with the Silicon Valley Bank to extend company’s revolving line of credit (LOC) until March 2012, and increase the amount which can be borrowed under the LOC to a total of $5 million. The company’s existing LOC enables for borrowings of up to $4.0 million. To date, the company has no amount outstanding on its line of credit. The new loan facility is anticipated to close during the first quarter of 2009.
