Portugal is granting a 100 million euro loan to the Qimonda company (subsidiary of the German multinational company Infineon) to avoid bankruptcy. The loan granted by the national Portuguese bank CGD adds up to the 150 million euro lent by the Land of Saxony and the 75 million euro lent by the parent company itself. (Ref. 081046)
The value of the products made by Qimonda Portugal company, specialized in micro technology, decreased of 40-60% in a few weeks. The special production (microprocessors, memory cards, photovoltaic) forces the company to be constantly innovating in terms of R&D, investment and development to compete with emerging countries.
Transnational rescue. The rescue plan, up to €325 million, will be paid by the Land of Saxony (€150 million) – which hosts a Qimonda factory – the Portuguese bank CGD (€100 mi
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