LONDON Micron Technology Inc. said Monday (Jan. 9) that it had closed the deal to create IM Flash Technologies LLC, a joint venture company formed with Intel Corp. to manufacture NAND flash memory chips at wafer fabs owned by Micron located in Boise, Idaho, Manassas, Va. and Lehi, Utah.
Intel (Santa Clara, Calif.) and Micron (Boise, Idaho) announced their plans to create the joint venture, 51 percent owned by Micron and 49 percent owned by Intel, in November 2005.
IM Flash is to manufacture devices exclusively for Micron and Intel, for use in consumer electronics, removable storage and handheld communications devices. Intel and Micron each entered into separate long-term agreements to supply Apple with a significant portion of each of their share of IM Flash Technologies' NAND flash memory output. As part of these agreements, Apple committed to prepay $250 million each to Intel and Micron.
IM Flash is expected to move “aggressively” to manufacturing on 72-nm and then 50-nm process technology, with initial production set to come the company early 2006.