IN BRIEF: Infineon Seeks $705 Million State Aid

Infineon Calls for State Help

by Anton Shilov
05/28/2009 | 11:10 PM

Infineon Technologies, one of the largest makers of semiconductors and the second largest semi company in Europe, has asked the German government to guarantee €500 million ($705 million) in loans, reports Financial Times.

 

Infineon has reported losses amid falling sales. Big customers – makers of automobiles in particular – have reduced orders as recession-hit consumers have stopped buying their products, FT said. Recently, Infineon admitted to having trouble securing follow-on financing for €900m in loans and bonds coming due over the next 18 months.