December 9, 2014 / 12:43 PM / 3 years ago

Fairchild to start production at TowerJazz Panasonic plant

JERUSALEM (Reuters) - Fairchild Semiconductor has started mass production at TowerJazz Panasonic Semiconductor's chip plant in Japan, TowerJazz said on Tuesday.

A market source estimated that Israel-based TowerJazz would reap $50 million in revenue a year starting in mid-2015.

TowerJazz Panasonic is 51 percent owned by TowerJazz and 49 percent by Panasonic. The joint venture of three chip plants in Japan was established earlier in 2014.

Reporting by Steven Scheer; Editing by Tova Cohen

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