Nanya and Micron Joint Venture

CNN Money reports Nany and Micron have entered into a 50-50 joint venture to develop memory chips. CNN writes:

Nanya Technology Corp. (2408.TW) said Tuesday it injected another NT$1.37 billion into MeiYa Technology Corp., a joint venture with U.S. chip maker Micron Technology Inc. (MU).

The injection raises Nanya's total investment in MeiYa to NT$2.57 billion, Nanya said in a statement.

Nanya, Taiwan's second-largest memory-chip maker by revenue after Powerchip Semiconductor Corp., and Micron said in April they would each invest US$550 million to set up the 50-50 joint venture, which will make memory chips widely used in personal computers.

The two companies agreed to complete their fund injections in MeiYa by the end of 2009.

MeiYa, based in Taoyuan, northern Taiwan, will start mass production in 2009 with a monthly capacity of 45,000 wafers.

CNN Money: Nanya Technology Injects NT$1.37 Billion In Chip Venture With Micron