Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 30

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 30
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 waveguides, high voltage CMOS,
radio frequency identification (RFID) technologies and power management. To better serve our customers, we have developed and are continuously
expanding our technology offerings in these fields. Through our experience and expertise gained during more than thirty years of operation,
we differentiate ourselves by creating a high level of value for our customers through innovative technological processes, design and
engineering support, competitive operational indices, and dedicated customer service.

Tower Semiconductor Ltd., an Israeli company, was founded in 1993
with the acquisition of National Semiconductor’s 150-mm wafer fabrication facility located in Migdal Haemek, Israel, known as our
Fab 1 facility, and commenced operations as an independent foundry. During the first quarter of 2025, in response to anticipated
changes in market dynamics and customer demand, we discontinued the lower-margin legacy 150mm process flows, ceased operations in Fab
1 and consolidated certain strategic flows into Fab 2, also located in Migdal Haemek, Israel, in order to streamline our production processes
and enhance our overall efficiency.

20

In 2003, we commenced production at Fab 2, a wafer fabrication
facility we established in Migdal Haemek, Israel. Fab 2 supports geometries ranging from 0.35 to 0.13-micron, utilizing advanced CMOS
technology, including CMOS image sensors, matrix ionizing radiation sensors, devices employing metamaterials, embedded flash, advanced
analog, RF (radio frequency), specifically RF switches on SOI, power platforms and mixed-signal technologies.

In September 2008, we merged with Tower NPB, which holds 100% of
NPB Co. and operates Fab 3, located in Newport Beach, California, U. S. Fab 3 specializes in specialty process technologies of silicon
photonics, analog and mixed-signal semiconductor devices, and supports geometries ranging from 0.50 to 0.13-micron. NPB Co.’s specialty
process technologies support applications requiring advanced analog, radio frequency, high voltage, bipolar, SOI and silicon germanium
bipolar, complementary metal oxide (“ SiGe”) and silicon photonics processes. Fab 3 wafers are used by our customers for a
wide range of products, including devices for high-speed data, communications, cellular phones, wireless local area networking devices,
digital TVs, set-top boxes, gaming devices, switches, routers and broadband modems