CHAVES, Portugal, Jan 23 (Reuters) - Portugal's Prime Minister Jose Socrates said on Friday the government would do everything possible to keep the Portuguese plant of German chip-maker Qimonda open even as the company filed for insolvency.
Last month, Portugal's state-controlled CGD bank contributed 100 million euros to a 325 million euro rescue line for Qimonda, along with the German state of Saxony and Qimonda's parent company, Infineon. Qimonda was Portugal's biggest exporter in 2007.
'The Portuguese state has done everything for Qimonda not to start insolvency procedures and now will do everything to keep the Qimonda plant in our country functioning,' Socrates told reporters.
'We'll do everything possible. We will team up in the search for solutions,' he added.
Qimonda's factory in the north of Portugal employs about 1,800 people and its closure would be a blow to the country which has struggled in recent years to prevent the closure of foreign manufacturing plants.
Qimonda, the world's fourth-biggest maker of DRAM memory chips, said on Friday the 325 million euro rescue attempt had not been agreed in time to save the company.
(Reporting by Ruben Bicho; Writing by Andrei Khalip; Editing by Jon Loades-Carter) Keywords: QIMONDA PORTUGAL/ (andrei.khalip@thomsonreuters.com; (351) 213-509-209; RM: andrei.khalip.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Last month, Portugal's state-controlled CGD bank contributed 100 million euros to a 325 million euro rescue line for Qimonda, along with the German state of Saxony and Qimonda's parent company, Infineon. Qimonda was Portugal's biggest exporter in 2007.
'The Portuguese state has done everything for Qimonda not to start insolvency procedures and now will do everything to keep the Qimonda plant in our country functioning,' Socrates told reporters.
'We'll do everything possible. We will team up in the search for solutions,' he added.
Qimonda's factory in the north of Portugal employs about 1,800 people and its closure would be a blow to the country which has struggled in recent years to prevent the closure of foreign manufacturing plants.
Qimonda, the world's fourth-biggest maker of DRAM memory chips, said on Friday the 325 million euro rescue attempt had not been agreed in time to save the company.
(Reporting by Ruben Bicho; Writing by Andrei Khalip; Editing by Jon Loades-Carter) Keywords: QIMONDA PORTUGAL/ (andrei.khalip@thomsonreuters.com; (351) 213-509-209; RM: andrei.khalip.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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