Qimonda Portugal, a DRAM test and assembly facility of insolvent Qimonda, may be saved by investors and the government of Portugal. The firm will get a new name and will operate independently. Unfortunately, the details are scarce.

A total of three partners have agreed on a new strategy: the state Portugal will hold a 18% share in the new company, BCP and BES will share the remaining 82% (each holding 41%), reports Evertiq web-site citing Portuguese local media. The partners will invest about €15 million ($22.3 million) into the new company. The newly formed chip test and assembly facility will receive a new name, the most probable new name for now is Nanium.

The rescue plan includes employment of 770 workers over the next 18 months.

It remains to be seen whether independent chip test and assembly facility can actually be successful in Portugal, the country that has no chip manufacturing. Potentially, European semiconductor makers may turn to Nanium for test and assembly of their chips, however, not a lot of semiconductors are produced in the European Union in general.

Tags: Qimonda, Nanium, Semiconductor, Business, DRAM