The Infineon subsidiary Qimonda has today filed with the Bankruptcy Court Munich. Thus erstmal all attempts have failed to rescue the chip manufacturer. As a reason for the insolvency Qimonda called the drastic fall in prices in the chip industry and we currently see no possibility of financing. Because the chaos in the capital markets is probably not entirely innocent, because most companies currently have certain difficulties to arrive there in fresh capital!
The funding package announced in December of a good 325 million euros, with the participation of the Free State of Saxony, the parent company, Infineon and Qimonda, according to several other banks could not be completed in time to avoid bankruptcy but still too.
On learning of the insolvency of the share of Qimonda to burst more than 60 percent to 0.085 euros. Was also the shares of Infineon to around 12 percent to euro 0.63.
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