FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of January 2006
TOWER SEMICONDUCTOR LTD.
(Translation of registrant's name into English)
P.O. BOX 619, MIGDAL HAEMEK, ISRAEL 23105
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [_] No [X]
On January 3, 2006, the Registrant announced that it begins production of
Zoran's demodulator chip for digital broadcast televisions and set-top boxes.
Attached hereto is a copy of the press release.
This Form 6-K is being incorporated by reference into all effective
registration statements filed by us under the Securities Act of 1933.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TOWER SEMICONDUCTOR LTD.
Date: January 3, 2006 By: /S/ Nati Somekh Gilboa
--------------------------
Nati Somekh Gilboa
Corporate Secretary
TOWER SEMICONDUCTOR BEGINS PRODUCTION OF ZORAN'S DEMODULATOR CHIP
FOR DIGITAL BROADCAST TELEVISIONS AND SET-TOP BOXES
TIGHTLY COUPLED DESIGN AND MANUFACTURING ACHIEVE SUPERIOR PERFORMANCE
MIGDAL HAEMEK, Israel - January 03, 2006 - Tower Semiconductor, Ltd., a
pure-play independent specialty wafer foundry (NASDAQ: TSEM; TASE: TSEM) today
announced that it has begun manufacturing Zoran Corporation's Cascade2
demodulator chip at Tower's FAB2, using 0.18-micron process.
The Cascade2 demodulator is a component in Zoran's Digital TV platform solution,
aimed at the transition of the United States market from the NTSC TV
broadcasting standards to the digital television (DTV) standard propagated by
the Advanced Television System Committee (ATSC).
Industry analysts estimate that worldwide shipments of digital televisions will
increase to over 160 million units in 2009, while the US shipments will exceed
60 million units.
"With Tower's 0.18-micron process, our Cascade2 demodulator achieved excellent
product performance. Zoran's digital TV enabled products provide consumers with
a DVD-class video and audio experience far superior to what they are receiving
today on their analog TV sets" said Ram Ofir, senior vice president and general
manager, DTV division at Zoran.
"We found Tower's customer support from design to production to be highly
responsive, which is important to delivering products quickly in this fast
growing market" said Tzach Hadas, vice president operations at Zoran.
"We are pleased to complement Zoran's expertise in digital TV solutions with our
process offering that supports bringing intricate digital functionality to the
market at affordable prices," said Dani Ashkenazi, General Manager of CMOS
product line at Tower. "We take pride in supporting customers such as Zoran with
very fast ramps to volume production."
ABOUT TOWER SEMICONDUCTOR LTD.
Tower Semiconductor Ltd. is a pure-play independent specialty wafer foundry
established in 1993. The company manufactures integrated circuits with
geometries ranging from 1.0 to 0.13 micron; it also provides complementary
technical services and design support. In addition to digital CMOS process
technology, Tower offers advanced non-volatile memory solutions, mixed-signal
and CMOS image-sensor technologies. To provide world-class customer service, the
company maintains two manufacturing facilities: Fab 1 has process technologies
from 1.0 to 0.35 micron and can produce up to 16,000 150mm wafers per month. Fab
2 features 0.18-micron and below standard and specialized process technologies,
and has the current capacity of up to 15,000 200mm wafers per month. Tower's Web
site is located at www.towersemi.com.
Safe Harbor
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS, WHICH ARE SUBJECT TO
RISKS AND UNCERTAINTIES. ACTUAL RESULTS MAY VARY FROM THOSE PROJECTED OR IMPLIED
BY SUCH FORWARD-LOOKING STATEMENTS. A COMPLETE DISCUSSION OF RISKS AND
UNCERTAINTIES THAT MAY AFFECT THE ACCURACY OF FORWARD-LOOKING STATEMENTS
INCLUDED IN THIS PRESS RELEASE OR WHICH MAY OTHERWISE AFFECT OUR BUSINESS IS
INCLUDED UNDER THE HEADING "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON
FORMS 20-F AND 6-K, AS WERE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
AND THE ISRAEL SECURITIES AUTHORITY.
TOWER CONTACTS:
Tower Semiconductor USA
Michael Axelrod, 408-330-6871
pr@towersemi.com
or
Pacifico Inc.
Mary Curtis, 408-293-8600
mcurtis@pacifico.com