FRANKFURT, Feb 18 (Reuters) - Qimonda's works council urged German Chancellor Angela Merkel to help save the insolvent memory chipmaker.
'Act now, dear Mrs Chancellor, so that technological dominance in semiconductors in Germany and Europe will not be lost,' Martin Welzel, head of the works council at Qimonda's plant in Dresden, said in a letter on Wednesday.
Time was limited and Germany and Europe must work quickly to find an investor for Qimonda, Welzel said.
Qimonda filed for insolvency last month after a 325 million euro ($409.2 million) rescue attempt by its home state of Saxony, parent company Infineon and a group of banks did not materialise in time..
Insolvency administrator Michael Jaffe reiterated Qimonda -- the world's fourth-biggest maker of DRAM chips -- needs to find an investor by the end of March to continue operations.
Earlier this month, EU Industry Commissioner Guenter Verheugen said he saw no chance of saving Qimonda with the tools available to the European Union.
(Reporting by Nicola Leske; Editing by David Cowell) ($1=.7941 Euro) (nicola.leske@thomsonreuters.com; +49 69 7565 1214; Reuters Messaging: nicola.leske.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.
'Act now, dear Mrs Chancellor, so that technological dominance in semiconductors in Germany and Europe will not be lost,' Martin Welzel, head of the works council at Qimonda's plant in Dresden, said in a letter on Wednesday.
Time was limited and Germany and Europe must work quickly to find an investor for Qimonda, Welzel said.
Qimonda filed for insolvency last month after a 325 million euro ($409.2 million) rescue attempt by its home state of Saxony, parent company Infineon and a group of banks did not materialise in time..
Insolvency administrator Michael Jaffe reiterated Qimonda -- the world's fourth-biggest maker of DRAM chips -- needs to find an investor by the end of March to continue operations.
Earlier this month, EU Industry Commissioner Guenter Verheugen said he saw no chance of saving Qimonda with the tools available to the European Union.
(Reporting by Nicola Leske; Editing by David Cowell) ($1=.7941 Euro) (nicola.leske@thomsonreuters.com; +49 69 7565 1214; Reuters Messaging: nicola.leske.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.
© 2009 AFX News
