Intentional agreement signed, Israeli chip giant TowerJazz settles in Hefei

Israeli chip giant TowerJazz is rumored to have signed a contract with Hefei last week and is about to land in China. Today, according to the Science and Technology Board Daily, the news of TowerJazz's rumors settled in Hefei is true. The person familiar with the matter said that the TowerJazz project may be in the new station area of Hefei, "the specifics are still under discussion, but an intent agreement has been signed."

It is understood that TowerJazz is the world's number one analog foundry and the sixth wafer foundry. According to TrendForce's global wafer foundry ranking for the second quarter of 2019, TowerJazz is ranked sixth and the top five are TSMC, Samsung, GlobalFoundries, UMC, SMIC.

In fact, as early as the end of 2018, TowerJazz CEO Russell Ellwanger has revealed that TowerJazz has plans to build a factory with the most advanced technology in China, and they are looking for suitable opportunities in this direction.

The smooth hand-to-hand cooperation between TowerJazz and Hefei will also add another wing to China's chip manufacturing industry and help the country break the lack of "cores" as soon as possible.