FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of April 2008 No. 2
TOWER SEMICONDUCTOR LTD.
(Translation of registrant's name into English)
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 April 15, 2008, the registrant announces Tower Semiconductor Ramps
Production of Canesta's Breakthrough 3D Image Sensors. 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: April 15, 2008 By: /s/ Nati Somekh Gilboa
--------------------------
Nati Somekh Gilboa
Corporate Secretary
Tower Semiconductor Ramps Production of
Canesta's Breakthrough 3D Image Sensors
TARGETING A RAPIDLY GROWING MARKET OF BILLIONS OF DOLLARS IN AUTOMOTIVE,
GAMING AND INDUSTRIAL APPLICATIONS
MIGDAL HA'EMEK, Israel and SUNNYVALE, California (April 15, 2008) - Tower
Semiconductor, Ltd. (Nasdaq: TSEM, TASE: TSEM), an independent wafer foundry,
and Canesta, Inc., the inventor and pioneer of Electronic Perception Technology,
announced today that Canesta's revolutionary 3D image sensors are ramping to
broad production at Tower. The availability of the breakthrough chips from a
standard semiconductor manufacturing process will make it possible, for the
first time, for mass market "everyday devices" to be able to "see".
CanestaVision(TM) sensors, now in final qualification stages for the automotive
industry, are being manufactured at Tower's advanced Fab2 facility, using its
state-of-the-art, CMOS Image Sensor (CIS) 0.18-micron technology process.
"In addition to developing sophisticated technologies that enable our
CanestaVision(TM) chips to follow objects in three dimensions and real time in
any light, we have invested significant resources to create this capability on a
chip that can be produced using a conventional CMOS platform," said Jim Spare,
Canesta president and CEO. "The resulting high availability and low cost make
the sensors attractive to mass market opportunities for electronic perception
technology. Tower Semiconductor is a well recognized leader in CMOS image sensor
technology and is an excellent partner in reaching this goal."
"We are very pleased to see the fruits of our mutual investment in the past few
years coming to reality", said Dr. Avi Strum, General Manager of CMOS Image
Sensor Product Line at Tower Semiconductor. "Canesta's approach to 3D imaging is
a breakthrough. Together, our market opportunity is very large."
According to a recent study by Strategy Analytics, these kind of applications,
such as 3D camera will boost the growth of the automotive semiconductor market
from $18 billion in 2006 to $29 billion by 2013 through an 8.2 percent yearly
growth rate. Similarly, new user-interaction mechanisms in which a user's
actions or gestures drive the functions of a device have been proven by the
success of recent videogame and mobile phone products. The market for
next-generation 3D image sensors designed to enable a device to understand and
interact with its environment more accurately and robustly will be a significant
part of the traditional image sensor market (which is reported by isuppli.com to
be $5.5 Billion in 2007).
While traditional 2D image sensors collect and record color images for human
perception, 3D sensors add the extra dimension necessary to enable electronic
devices to "see." 3D sensors are expected to be widely deployed in a variety of
markets including:
o Consumer entertainment systems, such as video games that provide more
immersive experiences
o Machine vision and smart, automatic door sensors with improved
interpretation of their surroundings;
o Advanced automotive systems that perceive obstacles with greater
fidelity and flexibility than other approaches;
and many others.
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.
Boasting 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 CANESTA INC.
Canesta is the inventor of revolutionary, low-cost electronic perception
technology that enables ordinary electronic devices in consumer, security,
industrial, medical, automotive, factory automation, gaming, military, and many
other applications, to perceive and react to objects or individuals in real
time. When given true, fine-grained 3-dimensional depth perception with
Canesta's unique CanestaVision(TM) electronic perception chips and software,
such products can gain functionality and ease of use not possible in an era when
such devices were blind.
Numerous applications are under active development by Canesta's OEM customers
and partners, including building automation, security, robotics, automotive,
computer gaming, and others.
Canesta was founded in April 1999, and is located in San Jose, CA. The company
has filed in excess of forty patents, 26 of which have been granted so far.
Investment to date exceeds $58 million, from Carlyle Venture Partners, Honda
Motor Company, Hotung Capital Management, JP Morgan Partners, Korea Global IT
Fund (KGIF), Venrock Associates and others.
More information can be found at http://www.canesta.com.
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.
CONTACTS:
Tower Semiconductor USA, Michael Axelrod, 408-330-6871, pr@towersemi.com
or
FOR CANESTA:
Roeder-Johnson Corporation, Paul Michelson/Abigail Johnson, 650-802-1850,
http://email.roeder-johnson.com