Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 151

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 151
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 a substantive and competitive advantage for our customers, for example when time to market is critical (our design support reduces the number of required runs) or when implementing designs that reach technology boundaries. Additionally, our IP and design services can help alleviate some of the challenges that our customers face, providing the specific skills and expertise critical for quick and successful implementation of their design in our fabs.
 
We believe that our circuit design expertise and our ability to accelerate our customers’ design cycle while reducing their design costs represent one of our notable competitive strengths.
 
 JAZZ SEMICONDUCTOR TRUSTED FOUNDRY
 
For purposes of our U.S. aerospace and defense business, Tower and Tower NPB have worked with the Defense Counterintelligence Security Agency of the United States Department of Defense (“DCSA”) to mitigate concerns about foreign ownership, control or influence over the operations in Fab 3. To protect against potential unauthorized access to trusted and classified materials and information, Jazz Semiconductor Trusted Foundry (“JSTF”) was established as a subsidiary of Newport Fab LLC, which is directly held by NPB Co., and the possession of trusted and classified information is restricted to JSTF. JSTF maintains facility security clearance (which is currently limited but may be remediated) and Trusted Foundry accreditation status.  
C. ORGANIZATIONAL STRUCTURE
 
The legal name of our company is Tower Semiconductor Ltd. Tower was incorporated under the laws of the State of Israel in 1993.
 
Tower directly operates our Fab 2 facility in Israel.
 
Tower’s wholly-owned subsidiary, US Holdings Inc., owns all of the shares of Tower Semiconductor NPB Holdings, Inc., which owns all of the shares of Tower Semiconductor Newport Beach, Inc. (all three companies are incorporated in Delaware), which operates our Fab 3 facility located in Newport Beach, California.
 

Tower holds a 51% equity stake in Tower Partners Semiconductor Co., Ltd., incorporated in Japan (Nuvoton Technology Corporation Japan holds the remaining 49% stake), which operates the Uozo E and Tonami CD fabs located in Japan.
 
Tower’s wholly-owned subsidiary, Tower US Holdings Inc., also owns all of the shares of Tower Semiconductor San Antonio, Inc., incorporated in Delaware, which operates our Fab 9 facility located in San Antonio, Texas, US.  In addition, Tower will have access to a 300mm capacity corridor at Intel’s facility in New Mexico, the United States, after the necessary equipment is purchased and installed and the corridor is qualified for production.
 
Tower