zk1007815.htm
FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of
January 2010 No. 1
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
S 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 S
On
January 27, 2010, the registrant announces that its CEO, Russell Ellwanger,
Receives Hi-Tech CEO of the Year Award for Business Breakthrough.
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.
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TOWER
SEMICONDUCTOR LTD.
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Date:
January 27, 2010
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By:
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/s/ Nati Somekh Gilboa
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Name:
Nati Somekh Gilboa
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Title:
Corporate Secretary
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TowerJazz
CEO, Russell Ellwanger, Receives Hi-Tech
CEO
of the Year Award for Business Breakthrough
Most
prestigious award in the Israeli hi-tech industry
MIGDAL HAEMEK, Israel – January 27,
2010 – TowerJazz, the global specialty foundry leader, today announced
that its CEO, Russell Ellwanger, received the Hi-Tech CEO of the Year Award in
the category of business breakthrough. The Hi-Tech CEO Forum of the
Israeli Management Center granted the award as part of a ceremony recognizing
CEOs of Israeli companies for outstanding performance. This award is
considered the most prestigious in the Israeli hi-tech industry.
The award
was granted to Mr. Ellwanger for his leadership and execution of the merger of
two companies that brought about a significant strategic and business turnaround
for Tower Semiconductor. The merger with Jazz Semiconductor
re-positioned the company and launched a new brand, TowerJazz to become the
number one specialty foundry worldwide.
The award
committee highlighted that Mr. Ellwanger’s achievements are extraordinary due to
the fact that he envisioned, during a major global economic downturn, the
success of combining two entities into one stronger company, gaining increased
revenues, substantial synergies and cost savings, best of breed specialty
process offerings, customer diversification and enhanced geographical
presence.
“During
the last year, under Russell‘s impressive leadership, TowerJazz had a
significant strategic, business, technological and organizational turnaround,
which positioned the company as a provider of complete solutions and as a
leading catalyst in accelerating the success of its customers,” said Amir
Elstein, Chairman of TowerJazz and Vice Chairman of the Board of Directors of
Israel Corporation. “This unique business positioning was fueled by Israeli
science and innovation combined with Israeli manufacturing excellence. The
substantial and fast alteration in its financial results is evidence of the
significant breakthrough TowerJazz has achieved, but it is only a sign for the
potential rise when I see the great amount of opportunities we still have in
front of us.”
Idan
Ofer, chairman of Israel Corporation Ltd., one of the Company’s major
shareholders, commented: “"I am pleased with Tower-Jazz success and its public
acknowledgment. As major shareholders, we are delighted to witness the fruits of
our long term investment, belief and support in the company and its executive
team headed by Mr. Russell Ellwanger. We are proud to be a part of a company
with a record growth percentage in its industry." Ofer further commented: “We
would also like to extend our sincere congratulations to Russell for receiving
this well earned prize.”
“It is a
great honor for TowerJazz to be recognized by the Hi-Tech CEO’s Forum of the
Israeli Management Center and receive this award. It is a tribute to the
capabilities and accomplishments of the TowerJazz management and entire team and
it has been my honor and pleasure to work among them," said
Ellwanger.
About
TowerJazz
Tower
Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM), the global specialty
foundry
leader and its fully owned U.S. subsidiary Jazz Semiconductor, operate
collectively under the brand name TowerJazz, manufacturing integrated
circuits with geometries ranging from 1.0 to 0.13-micron. TowerJazz
provides industry leading design enablement tools to allow complex
designs to be achieved quickly and more accurately and offers a broad range
of customizable process technologies including SiGe, BiCMOS, Mixed-Signal and
RFCMOS, CMOS Image Sensor, Power Management (BCD), and Non-Volatile Memory (NVM)
as well as MEMS capabilities. To provide world-class customer service, TowerJazz
maintains two manufacturing facilities in Israel and one in the U.S. with
additional capacity available in China through manufacturing partnerships. For
more information, please visit www.towerjazz.com.
Safe
Harbor Regarding Forward-Looking Statements
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 Tower and/or Jazz’s
business is included under the heading "Risk Factors" in Tower’s most recent
filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the Securities and
Exchange Commission (the “SEC”) and the Israel Securities Authority and Jazz’s
most recent filings on Forms 10-K and 10-Q, as were filed with the SEC,
respectively. Tower and Jazz do not intend to update, and expressly disclaim any
obligation to update, the information contained in this release.
For
TowerJazz
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Company
Contact:
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Media
Contact:
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Melinda
Jarrell
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Lauri
Julian
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949/435-8181
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949/715-3049
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melinda.jarrell@towerjazz.com
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lauri.julian@towerjazz.com
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Investor
Relations Contact:
Levi
Noit
+972 4
604 7066
noit.levi@towerjazz.com