updated 4/20/2011 10:47:18 PM ET 2011-04-21T02:47:18

SINGAPORE, April 21, 2011 (GLOBE NEWSWIRE) -- Intel Corporation (Nasdaq:INTC) and Micron Technology, Inc. (Nasdaq:MU) today expanded their NAND Flash memory joint venture operations with the official opening of IM Flash Singapore.

The US$3 billion facility is expected to employ about 1,200 and is currently ramping production of the companies' industry-leading 25 nanometer (nm) NAND Flash memory. The companies announced the opening of the state-of-the-art 300 millimeter facility at a ceremony with Singapore government representatives, including Prime Minister Lee Hsien Loong.

"In just five short years, Intel and Micron have successfully collaborated to become the industry's NAND Flash leader," said Steve Appleton, Micron Chairman and CEO. "The opening of IM Flash Singapore marks another significant milestone in our partnership and complements Micron's Singapore operations that serve as our company's Asian hub."

"The Intel-Micron partnership has been highly successful in developing innovative NAND Flash technology," said Dave Baglee, Intel Vice President and Director of NAND Manufacturing and Operations. "The IM Flash joint venture has been able to create tremendous momentum and industry leading manufacturing capabilities. We look forward to adding IM Flash Singapore to our global manufacturing network."          

IM Flash has ramped production of 25nm NAND Flash memory at the Singapore facility since mid-2010. The facility is expected to be at full production levels later in 2011.

"IM Flash Singapore was able to start up very successfully with its first wafer out a month ahead of the schedule and with matching quality. This enabled an early shipment release to both Intel and Micron," said Chen Kok Sing, IM Flash Singapore Managing Director. "This success is a testament of the solid commitment and seamless execution of our team members. This is also possible only with the strong support from both parent companies and everyone in the IM Flash manufacturing network."

Along with the new Singapore facility, the joint venture produces products at two other joint venture manufacturing locations: Lehi, Utah, and Micron's Manassas, Va., facility. Intel and Micron also recently introduced 20nm NAND Flash memory process technology that will be implemented at the IM Flash facilities during the course of 2011.

Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom/ .

Micron Technology, Inc. is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron's common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com .

The Micron Technology, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6950

©2011 Micron Technology, Inc., and Intel Corporation. All rights reserved. Information is subject to change without notice.

Micron and the Micron logo are trademarks of Micron Technology, Inc. Intel is a trademark of Intel Corporation or its subsidiaries in the United States and other countries. All other trademarks are the property of their respective owners.

CONTACT: Nick Jacobs
         Intel Asia Pacific
         +65-6213-1294
         nick.jacobs@intel.com
         
         Daniel Francisco
         Micron Technology, Inc.
         +1-208-368-5584
         dfrancisco@micron.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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