The company said, “In September 2023, Intel (INTC) signed a contract with Tower to manufacture 300mm wafers for Tower’s customers in Intel’s New Mexico facility. Recently, Intel has expressed its intention not to perform under the agreement. The parties are presently in a mediation process. The flows which have been transferred, or were in the process of being transferred, were originally qualified in Tower’s Fab7 in Japan. Customers are now being redirected to be supported by Fab7. “
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