Qimonda to get $452 million bailout

BERLIN: A German state government says it has put together a bailout package worth euro325 million ($452 million) for troubled memory-chip maker Qimonda AG.

Saxony, where Qimonda has a major plant, says Sunday that it will provide euro150 million in credit to the company.

It says Infineon Technologies AG, which holds a majority stake in Qimonda, will provide euro75 million and the Portuguese Investment Bank plans to add euro100 million. Qimonda has a plant in Porto, Portugal.

Qimonda said earlier this month it may face bankruptcy if it fails to find new investors. Makers of computer memory chips have been hit hard by falling prices and an oversupply of the products.