Russell Ellwanger on capacity expansion
From TSEM Stock | Tower Semiconductor Ltd. Q3 2020 Earnings Call · · AlphaStreet
“At this point it might be more financially viable to do something inorganically than to continue organically in Japan but the ability to go organically in Japan still sits as as an option so when I state that we'd be seeing a a Q3 most likely Q4 um to where we would enter into q1 2022 maybe with an overd demand of the capability that we now have um that gives enough time to make a decision to grow organically if we needed to in Japan but but the indication and what we would prefer to do at this point is to do something in an inorganic basis with substantially more capacity and nominally possibly a better ROI scenario.”
On , Russell Ellwanger, CEO at Tower Semiconductor, spoke about capacity expansion during TSEM Stock | Tower Semiconductor Ltd. Q3 2020 Earnings Call on AlphaStreet.
About Russell Ellwanger
Russell Ellwanger, CEO of Tower Semiconductor, discussed the company's third-quarter 2020 results and outlook during a November 12, 2020 earnings call. He reported that Q3 revenues were $310 million, within guidance, and that the company guided Q4 to a mid-range of $340 million, representing 10% quarter-over-quarter and 11% year-over-year growth. Ellwanger addressed a cybersecurity incident in early September, stating that IT safeguards identified a security incident, leading to a temporary halt of Israeli and U.S. IT systems, with all factories returned to operational capability within a week and no damage to work-in-progress quality or customer data. Ellwanger described a "surge growth" in the mobile business, citing strong immediate orders and longer-term customer forecasts, and raised the company's 2020 year-over-year growth expectation for this market from 10-15%. He noted that the industry is experiencing a strong surge in RF demand as the handset market rebounds from the COVID-19 slowdown and 5G adoption accelerates, with 5G-enabled handsets anticipated to nearly double in 2021 versus 2020. Ellwanger also mentioned that Tower Semiconductor began its 2020 annual Technology Global Symposium online event, featuring webinars on the company's analog technologies and manufacturing solutions.