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Thursday, August 28, 2014

TowerJazz, Panasonic joint venture in Japan gets deal with Himax, (NASDAQ: HIMX)

Israeli chip manufacturer TowerJazz announced on Thursday the first major image sensor customer for its joint venture with Panasonic Corp in Japan. Himax Imaging Inc, a subsidiary of Himax Technologies , is developing its newest high-end cameras for smart phones using TowerJazz Panasonic Semiconductor technology.The companies did not disclose financial details. But an industry source in Tel Aviv said the deal would bring in $20 million a year in revenue for the joint venture.TowerJazz Panasonic Semiconductor Co is 51 percent owned by TowerJazz and 49 percent by Panasonic. It has three manufacturing plants in Japan.

Himax Technologies, Inc. operates as an IC design house with LCD manufacturing capability. Shares of HIMX fell by 0.98% or $-0.08/share to $8.12. In the past year, the shares have traded as low as $5.70 and as high as $16.15. On average, 5099530 shares of HIMX exchange hands on a given day and today's volume is recorded at 2657893.