(RTTNews) - Tower Semiconductor Ltd. (TSEM), Wednesday announced a strategic move to restructure its Japan operations, which are currently run through TPSCo, a Japanese company owned 51 percent by Tower and 49 percent by Nuvoton Technology Corporation Japan.
Under the new plan, Tower will take full ownership of the 300mm facility through a wholly owned Japanese subsidiary, while Nuvoton Technology will take full ownership of the 200mm facility.
The transaction, set to close on April 1, 2027, is expected to strengthen Tower's differentiated optical and photonics platforms, enabling growth across these high-value technology offerings.
Currently, TSEM is moving up 4.29 percent, to $189.04 on the Nasdaq.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
