Intel, Micron to Form New Company

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Intel Corp. and Micron Technology Inc. on Monday said they would form a new company to manufacture NAND flash memory for consumer electronics, removable data storage and handheld communications devices.


The new company, IM Flash Technologies LLC, will manufacture its products exclusively for Intel and Micron. Each company will contribute about $1.2 billion in cash, notes and other assets to form the company. Intel and Micron also plan to pay an additional $1.4 billion each into the company over the next three years.


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