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mrbizzard

05/17/12 10:51 AM

#501 RE: mrbizzard #500

Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) subsidiary TowerJazz Japan Ltd. will receive a capital expenditure subsidy from Japan's Ministry of Economy, Trade and Industry (METI). The subsidy program aims to improve the logistics and facilities of companies' business locations and encourage new investment to maintain and create jobs by providing subsidies to production sites.