TowerJazz Signs a 3 Year Definitive Agreement with Semiconductor Laboratory, an Asian Governmental Agency

TowerJazz to Provide Process Engineering and Equipment Maintenance and Support at Revenue of approximately $35 Million

The deal will generate revenues of approximately $35 million, which are incremental to TowerJazz’s revenues from its existing manufacturing facilities. This agreement allows TowerJazz to realize profits and cash generation from its valuable manufacturing expertise and its skilled engineering manpower.

“This project represents another notable acknowledgement of our worldwide manufacturing expertise and capabilities,” said Mr. Russell Ellwanger, CEO of TowerJazz. “It is a special business model providing revenue and profit upside incremental to our base financial model.”