Taiwan-based Macronix International has announced it will continue working with IBM to jointly develop phase-change memory and other new advanced technologies under a new agreement that will extend their partnership through early 2022.

The most recent deal struck between Macronix and IBM will allow the pair to work together from January 22, 2019 to January 21, 2022, according to Macronix. Partnering with IBM will make a positive contribution to Macronix' technology competitiveness in the long term, said the Taiwan-based chipmaker.

In addition, Macronix' board of directors approved plans to add NT$865 million (US$28.1 million) to the company's recurrent expenditure next year.

Macronix' board approved previously capital appropriations of NT$14.2 billion for mainly upgrading 12-inch fabrication process. The company is looking to transition to 19nm process technology from 36nm for the manufacturing of NAND flash chips at its Fab 5. The planned capex budget will also be spent on Macronix' 3D NAND flash process R&D.