Tower Semiconductor Ltd. (TSEM)

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In April 2011 Tower Semiconductor announced it is buying a wafer fab belonging to Micron Technology Inc. in Nishiwaki City, Hyogo prefecture, Japan, for $140 million. The purchase nearly doubled the internal manufacturing capacity at Tower, increasing it by about 60,000 wafers per month. The fab, which can support geometries down to 95 nm, is part of plans to get Tower's annual revenue up to $1 billion by 2014.[8] In February 2012 Tower announced that its TowerJazz Japan subsidiary was selected by Japan's Ministry of Economy, Trade and Industry to receive a capital expenditure subsidy and that the investment would be used to upgrade Tower's manufacturing facilities in Japan.[9] TSEM