FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of October 2007
TOWER SEMICONDUCTOR LTD.
(Translation of registrant's name into English)
RAMAT GAVRIEL INDUSTRIAL PARK
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 October 17, 2007, Tower Semiconductor announced that it Begins Volume
Production of ViTi's CMOS Image Sensors for Home Security and Surveillance
System. 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: October 17, 2007 By: /s/ Nati Somekh Gilboa
--------------------------
Nati Somekh Gilboa
Corporate Secretary
TOWER SEMICONDUCTOR BEGINS VOLUME PRODUCTION OF
VITI'S
CMOS IMAGE SENSORS FOR HOME SECURITY AND
SURVEILLANCE SYSTEMS
Tower's Pixel IP Exhibits Superior Performance in Low Light Applications
MIGDAL HAEMEK, Israel - October 17, 2007 - Tower Semiconductor, Ltd. (NASDAQ:
TSEM; TASE: TSEM), an independent specialty foundry today announced that it
began manufacturing of a number of CMOS image sensor (CIS) products for Vision
Integration Technology, Inc. (ViTi) in its Fab1 manufacturing facility.
ViTi is a Taiwan-based semiconductor company that specializes in products for
security and surveillance systems, primarily in the Chinese and European
markets. The growth in video surveillance is expected to open a vast array of
opportunities for associated semiconductors. iSuppli projects that the market
for surveillance-camera semiconductors would reach $1.25 billion in 2011.
ViTi began volume production of its home security and closed circuit television
(CCTV) sensors in Tower's Fab1 using a 0.35-micron CIS process. The products
employ pixel IP that was designed and optimized by Tower specifically for these
demanding applications.
"With Tower's 0.35-micron process and pixel IP, our sensor's low-light
sensitivity to both visible and infrared light is superior to competitors'
similar products, achieving enhanced performance - even in night conditions,
which are prevalent in security and surveillance applications," said Mr. Ching
Lin Hsieh, president for ViTi. "In addition, our sensors utilize low operating
voltage, which results in lower power consumption. We were very pleased with
Tower's intimate customer support through design and ramp-to-production,
contributing to our excellent product performance."
"We are excited to complement ViTi's expertise in home security solutions with
our advanced pixel IP and process, enabling them to bring superior image sensors
to this fast evolving market," said Jonathan Gendler, director of CIS & NVM
customer management at Tower. "It has been a rewarding experience to have both
parties bring their expertise to the table and jointly achieve outstanding
results. ViTi contributed their experience and knowledge in the security
applications while Tower delivered the technology for low noise and light
sensitivity in dark environment. We trust that Tower's technology advantage and
our engineering capabilities will serve ViTi well in its efforts to dominate
this emerging market in China."
ABOUT TOWER SEMICONDUCTOR LTD.:
Tower Semiconductor Ltd. (Nasdaq: TSEM, TASE: TSEM) is an independent specialty
foundry that delivers customized solutions in a variety of advanced CMOS
technologies, including digital CMOS, mixed-signal and RF (radio frequency)
CMOS, CMOS image sensors, power management devices, and embedded non-volatile
memory solutions. Tower's customer orientation is complemented by its
uncompromising attention to quality and service. Its specialized processes and
engineering expertise provides highly flexible, customized manufacturing
solutions to fulfill the increasing variety of customer needs worldwide.
Offering two world-class manufacturing facilities with standard and specialized
process technologies ranging from 1.0- to 0.13-micron, Tower Semiconductor
provides exceptional design support and technical services to help customers
sustain long-term, reliable product performance, while delivering on-time and
on-budget results. More information can be found at http://www.towersemi.com.
ABOUT VITI:
Vision Integration Technology, Inc. (ViTi) was founded in 1999 with focus on
CMOS image sensor ICs. ViTi has been developing CMOS image sensor ICs for
different applications and markets, focusing mainly on higher-end products.
Security and surveillance camera sensors are ViTi's leading product line, and
several products with different resolutions and pixel sizes have been
successfully launched to the market. ViTi advanced technology enables the
development and manufacturing of products with superior optical performance
especially in low light and night conditions.
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, F-1, F-3 and 6-K, as were filed with the Securities and Exchange
Commission and the Israel Securities Authority. We do not intend to update, and
expressly disclaim any obligation to update, the information contained in this
release.
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CONTACTS:
Tower Semiconductor USA
Michael Axelrod, +1 408 330 6871
pr@towersemi.com
or
Shelton Group
Melissa Conger, (972) 239-5119 ext. 137
mconger@sheltongroup.com