Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 276

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 276
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 subsidiary, Tower Semiconductor Newport Beach, Inc., an independent semiconductor foundry (Tower Semiconductor NPB Holdings, Inc. and Tower Semiconductor Newport Beach, Inc. collectively referred to herein as “ TSNB”); and (2) Tower Semiconductor San Antonio, Inc. (“ TSSA”); (ii) its51% owned subsidiary, Tower Partners Semiconductor Co., Ltd. (“ TPSCo”), an independent semiconductor foundry which operated three semiconductor facilities located in Tonami, Uozu and Arai (one of which, the Arai facility, ceased its operations in June 2022, see Note 13B2), in Hokuriku Japan, with the other49% of TPSCo’s shares held by Nuvoton Technology Corporation Japan (“ NTCJ”), formerly named “ Panasonic Semiconductor Systems Co., Ltd.” (“ PSCS”); and (iii) its wholly-owned subsidiary Tower Semiconductor Italy S. r. l. (“ TSIT”), incorporated in 2021 following the collaborative arrangement signed in June 2021 with ST Microelectronics S. r. l (“ ST”) according to which TSIT shares cost with ST, as of December 31, 2024, at a new 300 mm facility owned by ST in Agrate, Italy (see Note 13E).

Tower and its subsidiaries are collectively referred to as the “ Company”.

The Company is a leading global analog foundry of high value semiconductor solutions, providing technology, development and process platforms for integrated circuits (ICs) in growing markets offering a broad range of customizable process technologies including: SiGe, SiPho, mixed signal CMOS, RF CMOS, CMOS image sensor, non-imaging sensors and integrated power management. The Company also provides a world-class design enablement platform for a quick and accurate design cycle, as well as Transfer Optimization and development Process Services (“ TOPS”) to integrated device manufacturers (“ IDMs”) and fabless companies that require capacity. To provide multi-fab sourcing and expanded capabilities for its customers, as of December 31, 2024, the Company owns two facilities in Israel (150mm and 200mm), two in the U. S. (200mm), two in Japan through TPSCo (200mm and 300mm), shares a clean room and capacity in a 300mm facility in Italy with ST, and is establishing with Intel Corporation’s (“ Intel”) capacity corridor in Intel’s 300mm facility in New Mexico, USA, organized under TSSA (see Note