General Dynamics chose TowerJazz for a US Air Force project.
TowerJazz Ltd. (Nasdaq: TSEM; TASE: TSEM) has won a two-year contract from a General Dynamics Corp. (NYSE: GD) division. The company did not disclose the value of the deal.
TowerJazz's USA Aerospace and Defense Division won a contract from General Dynamics Information Technology to support the US Air Force MATES (MAnufacturing TEchnology Support) program for large-die read-out-integrated-circuit (ROIC) production. General Dynamics won the MATES program contract in 2004. TowerJazz is a leading manufacturer of ROICs, which are key elements in many air, land, sea and space detectors, sensors, and imaging systems for commercial and military applications. TowerJazz will provide 0.18-micron ROICs from its Newport Beach, California eight-inch silicon factory.
TowerJazz's share closed at $0.99 on Nasdaq yesterday, giving a market cap of $185 million. The share rose 4.4% to NIS 3.96 by mid-afternoon on the TASE today.
Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009