MIGDAL HAEMEK,
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
"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
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 Company Contact: Melinda Jarrell +1-949-435-8181 melinda.jarrell@towerjazz.com Media Contact: Lauri Julian +1-949-715-3049 lauri.julian@towerjazz.com Investor Relations Contact: Levi Noit +972-4-604-7066 noit.levi@towerjazz.com
SOURCE Tower Semiconductor Ltd