Chips down for Siemens

Siemens has sold its remaining 18 per cent stake in semiconductor spin-off Infineon Technologies for €1.2 billion.

Infineon was founded in 1999 when it was first launched as a separate company. Siemens sold its majority holdings during flotation in 2000 and another stake in 2004.

Infineon is fourth in the ranking of companies filing patents in Germany after Siemens, Bosch and Philips. Its products include microcontroller chips for the automotive and industrial market, communication systems, and DRAM and flash memory.

Infineon announced as part of its financial results in November 2005 that the company’s Supervisory Board has approved a plan to separate the memory products business and to form a wholly owned subsidiary of Infineon in July 2006. The plan was to make a public offering of shares in the new business.