FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of April 2008
TOWER SEMICONDUCTOR LTD.
(Translation of registrant's name into English)
P.O. BOX 619, MIGDAL HAEMEK, ISRAEL 23105
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [_] No [X]
On April 10, 2008, the registrant announces it to Increase Its Sales
Activity in Europe Attached hereto is a copy of the press release.
This Form 6-K is being incorporated by reference into all effective
registration statements filed by us under the Securities Act of 1933.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TOWER SEMICONDUCTOR LTD.
Date: April 10, 2008 By: /s/ Nati Somekh Gilboa
--------------------------
Nati Somekh Gilboa
Corporate Secretary
Tower Semiconductor to Increase Its Sales Activity in Europe
ADDS ETESIAN SEMICONDUCTOR TO ITS CHAIN OF LOCAL REPRESENTATIVES ADDRESSING THE
$1.9B EUROPEAN FOUNDRY MARKET
MIGDAL HAEMEK, ISRAEL, APRIL 10, 2008 - TOWER SEMICONDUCTOR LTD. (NASDAQ: TSEM;
TASE: TSEM), AN INDEPENDENT SPECIALTY FOUNDRY, TODAY ANNOUNCED TEAMING UP WITH
ETESIAN SEMICONDUCTOR TO PROVIDE LOCAL SUPPORT FOR TOWER'S GROWING CUSTOMER BASE
IN EUROPE. ETESIAN JOINS SOLUTION IN SILICON IN THE UK AND SCANDINAVIA AND
EQUIPIC IN THE NETHERLANDS TO FURTHER STRENGTHEN TOWER'S SUPPORT FOR EXISTING
AND NEW EUROPEAN CUSTOMERS.
The new European representative office will be providing both logistic and
technical support to Tower's existing customers as well as work to expand
Tower's customer base in the region by winning new opportunities. According to a
recent McClean report, the European Total Available Market (TAM) for pure-play
foundry in 2007 was $1.9B, representing 9% of the world-wide foundry market.
Tower currently serves more than 10 customers in Europe, among them several of
the top 10 IDM and fabless companies of the region.
"ETesiAN's experienced team is pleased to join the worldwide network of local
representative offices supporting Tower's customers. We are proud to be offering
Tower's state-of-the-art technologies to the demanding European customers." said
Elie Toledano, CEO of ETesiAN "We have identified an excellent match between
Tower's specialty technology offering and the European market needs.
Complemented by Tower's superior customer support, we foresee a prosperous
future and business growth."
"Tower has been in production for European customers for more than a decade. The
surge in demand for Tower's advanced processes, stemming from new and existing
customers, motivated us to expand our sales channels in Europe by teaming up
with an additional representative company." said Jonathan Gendler, Tower's
Director of Europe Sales "Tower's renowned customer support is further
strengthened to answer the needs of existing customers and handle the increased
influx of new opportunities."
Tower recently launched its new Power Management platform in the 0.18-micron
technology node. This new offering, as well as Tower's Mixed-Signal, RF-CMOS,
CMOS image sensors and embedded NVM, serve well the demand for specialty and
customized technologies of the European market.
ABOUT TOWER SEMICONDUCTOR LTD.:
Tower Semiconductor Ltd. (Nasdaq: TSEM, TASE: TSEM) is an independent specialty
foundry that delivers customized solutions in a variety of advanced CMOS
technologies, including digital CMOS, mixed-signal and RF (radio frequency)
CMOS, CMOS image sensors, power management devices, and embedded non-volatile
memory solutions. Tower's customer orientation is complemented by its
uncompromising attention to quality and service. Its specialized processes and
engineering expertise provides highly flexible, customized manufacturing
solutions to fulfill the increasing variety of customer needs worldwide.
Boasting two world-class manufacturing facilities with standard and specialized
process technologies ranging from 1.0- to 0.13-micron, Tower Semiconductor
provides exceptional design support and technical services to help customers
sustain long-term, reliable product performance, while delivering on-time and
on-budget results. More information can be found at http://www.towersemi.com.
ABOUT ETESIAN:
Etesian Semiconductor is a rep company with a mission to serve as a one stop
shop for the EMEA semiconductor industry by promoting and offering all services
and products needed by the fabless and IDM companies for successful design and
reliable manufacturing. ETesiAN's offering includes advanced foundry
manufacturing services, turn key services, IPs, design tools, design services,
test development and production, reliability, failure analysis, packaging and
financial VCs support. ETesiAN's team is composed of sales executives coming
from the foundry, VCs, Design and EDA background, with extensive networking to
the semiconductor industry in Europe and Israel. Having its offices in Israel
and France and partnerships in Germany and the UK, ETesiAN has direct and local
access to the majority of the fabless, IDM and design service companies in the
EMEA semiconductor market. ETesiAN's web site is located at
http://www.etesiansemi.com.
Safe Harbor:
This 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 our business is
included under the heading "Risk Factors" in our most recent Annual Report on
Forms 20-F, F-1, F-3 and 6-K, as were filed with the Securities and Exchange
Commission and the Israel Securities Authority. We do not intend to update, and
expressly disclaim any obligation to update, the information contained in this
release.
# # #
CONTACTS:
TOWER CONTACT:
Tower Semiconductor USA
Michael Axelrod, 408-330-6871
pr@towersemi.com
ETESIAN CONTACT:
Elie Toledano
elie.toledano@etesiansemi.com