Taiwan's ProMOS Technologies has stated that its cooperation with technology partner Elpida Memory of Japan remains unchanged, and both parties are looking to expand their ties.
The remark was made following a Japanese-language report indicating that Elpida will not make an equity investment in ProMOS due to the Taiwan company's financial problems.
ProMOS recently unveiled plans to issue up to 3.5 billion preferred shares, and also up to 1.5 billion shares of common stock, later in 2011. The planned fund-raising is aimed at strengthening the company's financial structure and competitiveness by bringing in new strategic partners, ProMOS was quoted in previous reports. ProMOS did not disclose any names.
Elpida has been speculated to be a potential investor for ProMOS's upcoming private placement.
Elpida outsources PC DRAM production to ProMOS, which uses its stack technology to produce chips. ProMOS also makes its own-brand mobile RAM and specialty DRAM chips, using Elpida's designs.