FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of April 2007
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 [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 11, 2007, the Registrant announced that Tower Semiconductor and
Paragon Communications completed development of XNN (R)-based power amplifier
booster. 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 11, 2007 By: /s/ Nati Somekh Gilboa
--------------------------
Nati Somekh Gilboa
Corporate Secretary
TOWER SEMICONDUCTOR AND PARAGON COMMUNICATIONS JOINTLY ANNOUNCE DEVELOPMENT
COMPLETION OF XNN(R)-BASED POWER AMPLIFIER BOOSTER
PRODUCT USES TOWER'S 0.18 MICRONS RFCMOS PROCESS
MIGDAL HAEMEK, Israel and HAIFA, Israel - April 11, 2007 - Tower Semiconductor
(Tower), Ltd. (NASDAQ: TSEM; TASE: TSEM), an independent specialty wafer
foundry, and Paragon Communications Ltd., a provider of solutions for enhancing
performance of wireless power amplifiers and systems, today announced the
manufacturing of XNN(R)-based Power Amplifier (PA) booster.
This innovative product is based on Paragon's patented technology to monitor the
Radio Frequency (RF) envelope and modulate the amplification. The product
attains up to 6dB improvement in output power, as well as major efficiency and
heat dissipation improvements over existing solutions. The XNN PA booster chip
will be manufactured on Tower's 0.18-micron process, including its RF-CMOS
feature, at Tower's FAB2 facility.
"With Tower's state-of-the-art RF-CMOS process and invaluable technical support
including design services, we were able to attain outstanding performance
enhancements to Wi-Fi and WiMax PA's of up to 6dB in output power, 50% in
efficiency and heat dissipation, while maintaining the same linearity criteria
of the PA," said Zeev Cohen, VP R&D, Paragon. "We have proven on silicon, by
using complex test chip, that our concept works and our product will attain the
performance targets. Tower has provided a one-stop shop in terms of capabilities
from design to manufacturing. Tower's teams assisted in taking the Paragon
concept from patent to silicon reality through Tower Design services group and
RF specialists. We are very pleased with our partnership with Tower and look
forward to a long-term business relationship."
"The Wi-Fi market is exploding and with the new 802.11n MIMO based standard it
is expected to grow exponentially over the next 4 to 5 years," commented Eli
Plotnik, CEO, Paragon. "This market, together with the emerging WiMax and next
generation Cellular LTE markets, positions Paragon with the high quality XNN(R)
PA booster chip that will be manufactured at Tower, as a market leader in this
field".
"We are pleased that Paragon made effective use of our RF-CMOS capabilities. Our
technology helps in enabling the XNN functionality, performance and chip-level
integration thereby facilitating attainment of the product goals," said Yossi
Netzer, general manager, RF and Mixed Signal product line, Tower. "Paragon is an
example of a dynamic young company, that benefits from the close cooperation
with Tower's design and manufacturing teams, thereby yielding excellent
technical results and setting the foundations for business success."
ABOUT PARAGON
PARAGON COMMUNICATIONS LTD. provides solutions for enhancing performance of
wireless power amplifiers and systems. Paragon offers its XNN(R) technology that
enhances output power, efficiency and simultaneously reduces power consumption
and heat dissipation in Wi-Fi, WiMAX, Cellular and other wireless systems.
Paragon holds many patents for enhancement of PA's and wireless systems
performance.
For further information please visit our Web site at
www.paragon-communications.com.
ABOUT TOWER SEMICONDUCTOR LTD.
Tower Semiconductor Ltd. is a pure-play independent specialty wafer foundry
established in 1993. The company manufactures integrated circuits with
geometries ranging from 1.0 to 0.13-micron; it also provides complementary
technical services and design support. In addition to digital CMOS process
technology, Tower offers advanced non-volatile memory solutions, mixed-signal &
RF-CMOS, and CMOS image-sensor technologies. To provide world-class customer
service, the company maintains two manufacturing facilities, each with standard
and specialized process technology processes: Fab 1 ranging from 1.0 to 0.35 and
Fab 2 featuring 0.18 and 0.13-micron. Tower's Web site is located at
http://www.towersemi.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
Form 20-F, Forms 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.
TOWER CONTACTS:
Tower Semiconductor USA
Michael Axelrod, 408-330-6871
pr@towersemi.com
or
Shelton Group
Melissa Conger, (972) 239-5119 ext. 137
mconger@sheltongroup.com
PARAGON CONTACTS:
Paragon Communications Ltd. Israel,
Annette Ziv, +972-4-8642775
annette@paragon-communications.com