Tower Semiconductor Announces All Manufacturing Sites Operational Following Cyber Event
September 10 2020 - 8:00AM
NEWS ANNOUNCEMENT
FOR IMMEDIATE
RELEASE
MIGDAL HAEMEK, Israel – September 10,
2020 – Tower Semiconductor (NASDAQ/TASE:
TSEM), today announced that all of its manufacturing sites are
operational, targeting full capability within the next few days, an
effective recovery from the cyber event announced on September 6,
2020.
Due to immediate and effective procedures, Tower
is confident of the functional quality of the work in progress and
production line inventories, with Company and customer data
remaining protected. Due to the manufacturing disruption, the
Company expects some level of impact to its third quarter
results.
About Tower SemiconductorTower
Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM), the leader in
high-value analog semiconductor foundry solutions, provides
technology and manufacturing platforms for integrated circuits
(ICs) in growing markets such as consumer, industrial, automotive,
mobile, infrastructure, medical and aerospace and defense. Tower
Semiconductor focuses on creating positive and sustainable impact
on the world through long term partnerships and its advanced and
innovative analog technology offering, comprised of a broad range
of customizable process platforms such as SiGe, BiCMOS,
mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors,
integrated power management (BCD and 700V), and MEMS. Tower
Semiconductor also provides world-class design enablement for a
quick and accurate design cycle as well as Transfer Optimization
and development Process Services (TOPS) to IDMs and fabless
companies. To provide multi-fab sourcing and extended capacity for
its customers, Tower Semiconductor operates two manufacturing
facilities in Israel (150mm and 200mm), two in the U.S. (200mm) and
three facilities in Japan (two 200mm and one 300mm) through TPSCo.
For more information, please visit: www.towersemi.com
Safe Harbor Regarding Forward-Looking
StatementsThis press release includes forward-looking
statements, which are subject to risks and uncertainties. Actual
results may vary from those projected or implied by such
forward-looking statements. A complete discussion of risks and
uncertainties that may affect the accuracy of forward-looking
statements included in this press release or which may otherwise
affect Tower’s business is included under the heading “Risk
Factors” in Tower’s most recent filings on Forms 20-F, F-3, F-4 and
6-K, as were filed with the Securities and Exchange Commission (the
“SEC”) and the Israel Securities Authority. Tower does not intend
to update, and expressly disclaim any obligation to update, the
information contained in this release.
Tower Semiconductor Company
Contact: Orit Shahar | +972-74-7377440 |
oritsha@towersemi.comTower Semiconductor Investor Relations
Contact: Noit Levy | +972-4-604-7066 |
noitle@towersemi.com
- TSEM_EventUpdate_Sep2020_FF (003)
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