India, Jan. 19 -- Powerchip Semiconductor Manufacturing Corp. (PSMC) announced that it has signed an exclusive Letter of Intent (LoI) with Micron Technology, Inc. (Nasdaq: MU) to sell its P5 fabrication site in Tongluo to Micron for total cash consideration of US$1.8 billion.

Micron will establish a long-term foundry relationship with PSMC on DRAM advanced packaging wafer manufacturing. It will also assist PSMC in enhancing its existing specialty DRAM process technologies at it's Hsinchu P3 fabrication. Through this move, PSMC aims to strengthen its financial structure. Amidst the global recovery of the memory market, PSMC plans to integrate advanced packaging technologies and materials-such as 3D Wafer-on-Wafer (WoW) and Interposers-to ...