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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Qimonda still seeks investors, cuts production Fri Mar 13, 2009 1:45pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] FRANKFURT (Reuters) - Insolvent German chipmaker Qimonda will continue talks with potential investors beyond March and will reduce production to standby-mode by the end of this month, according to its insolvency administrator. "Various investors have signaled their interest, but as yet there are no binding offers on the table," said Michael Jaffe on Friday after a meeting with the creditors committee. "As anticipated, it will not be possible to reach a conclusive solution by the end of March," he said. Qimonda has around 3,000 staff at its main European site in Dresden, the state capital of Saxony. It is expected to begin insolvency proceedings after it filed for insolvency in January. That means, from next month on the company would have to cover all wage and salary payments itself, Jaffe said, adding production in Dresden will gradually be ramped down and put into standby mode by March 31, 2009. Qimonda filed for insolvency after it said a 325 million euro ($418.3 million) rescue attempt by its home state of Saxony, parent company Infineon and a group of banks had not come in time. Jaffe reiterated that Qimonda -- the world's fourth-biggest maker of DRAM chips -- would be liquidated if it could not find a financial investor. Qimonda is suffering from a massive drop in prices for dynamic random access memory (DRAM) chips, its main product, and shares this with competitors such as Elpida and Samsung. (Reporting by Nicola Leske) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Sirius XM to roll out iPhone app in second quarter Video Video: American men opt for credit crunch snip Blog: Your newspaper died? People don’t care Commentary: The Dow at 36,000 and the end of history More Technology News Apple to preview new iPhone software next week Coating makes scratches on cars disappear Ericsson signs U.S. deal worth over $2 billion: report Kremlin loyalist says launched Estonia cyber-attack Google to target ads based on online activity More Technology News... 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