Micron, Nanya in Joint Memory-Making Venture

Memory chip manufacturer Micron Technology Inc. announced Monday that it is forming a joint venture with fellow DRAM producer Nanya Technology Corp. Micron, which is headquartered in Boise, Idaho, said the partnership will be called MeiYa Technology Corp. and will focus on the production of dynamic random access memory modules. Micron said Nanya's 200-millimeter manufacturer facility in Taiwan will be upgraded to 300 millimeters this year. The facility should begin operation in 2009, Micron noted. Both companies, Micron explained, will initially own 50 percent of the joint venture and will each contribute $550 million in cash by the end of next year. The transaction, which is subject to customary closing conditions, is expected to close in the coming months. Nanya Technology, a member of the Formosa Plastics Group, is hadquartered in Taipei.