Towering deal with Panasonic

Israel’s Tower Semiconductor Ltd is to set up a joint venture with Panasonic Corporation to manufacture Panasonic’s products. The joint venture is expected to be worth a massive $400 million in sales to Tower annually. No wonder Tower’s share price rose 40% on the news.
http://www.globes.co.il/serveen/globes/docview.asp?did=1000903349&fid=1725

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