Just a month after Qimonda AG arranged itself a €325 million financial package from Infineon as well as the state of Saxony (Germany) and several days after the company proclaimed itself bankrupt, the government of the state is ready to provide further aid to the troubled memory maker. Meanwhile, execs from Qimonda claim they still have not received anything arranged before.
“Saxony is still ready to help within its means,” a government spokesman said on Tuesday after Saxony's premier Stanislav Tillich met with Michael Jaffe, Qimonda’s insolvency administrator, reports Reuters news-agency.
According to the spokesperson, for Saxony it is crucial to keep the technology in the state and ensure that employees retain their jobs. About 3200 workers are employed by Qimonda in the area, even more jobs are indirectly created by the main semiconductor fab of the manufacturer there.
Meanwhile, according to a report from EETimes web-site, many executives and workers from Qimonda accuse the government of the bankruptcy. A high-ranking Qimonda employee who requested anonymity said that despite the December agreement with the Saxon government, no money was received.
“We did not see a single penny,” he is quoted as saying.
Some other claim that the €325 million packaged was arranged too late to save the company, whereas others criticize Qimonda’s management in general and chief executive Kin Wah Loh in particular.
“Loh was hiding in his office, waiting for the DRAM price recovery,” an employee of Qimonda said.