TowerJazz, the global specialty foundry leader, announced today the extension of its business relationship with International Rectifier (IR), a world leader in power management technology, by entering into a seven-year agreement under the terms of which TowerJazz will manufacture multiple product families for IR.
IR chose to extend its relationship with TowerJazz due to a history of proven success in working with TowerJazz’s TOPS (Transfer Optimization and Process Services) business unit; a group with engineering proficiency and proven models to enable Integrated Device Manufacturers (IDMs) the shortest qualification time and fastest time-to-market for moving their manufacturing into high volume foundries. As part of this latest collaboration, IR will use multiple fabs from TowerJazz. The new deal with IR will add yet another layer to TowerJazz’s multiple IDM deals it is currently engaged in.
“IR has enjoyed a strong relationship with TowerJazz, recognizing the company as an International Rectifier Supplier of the Year 2012 based upon criteria including alignment of business goals, manufacturing flexibility and responsiveness. With its goal to be the specialty foundry leader, TowerJazz continues to meet our business needs and we are pleased to enter into this agreement,” said Oleg Khaykin, President and Chief Executive Officer, International Rectifier.
“There is no greater affirmation a company can receive than a valued lead customer extending an existing agreement. International Rectifier, from its inception, has an undeniable brand as a power management leader. We look forward to many more years of partnership as we protect IR’s intellectual property as well as that of all our other customers,” said Russell Ellwanger, Chief Executive Officer, TowerJazz.