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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
February 26, 2009
QIMONDA AG
Gustav-Heinemann-Ring 212
D-81739 Munich
Federal Republic of Germany
Tel: +49-89-60088-0
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
Form 20-F þ Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82- .
This Report on Form 6-K is incorporated by reference into the registration statement on Form F-3,
File No. 333-145983.
Explanatory Note
This Report on Form 6-K contains a press release of Qimonda AG, dated February 23, 2009,
announcing intensified talks with potential buyers, the filing for creditor protection under
Chapter 11 of the US subsidiaries Qimonda North America Corp. and Qimonda Richmond L.L.C., its
importance as a high tech location for Germany and the statutory insolvency payments to its
employees, which is hereby incorporated by reference into the Registration Statement on Form F-3,
Registration No. 333-145983.
Talks with potential buyers intensified Qimondas particular importance for Germany as a
high-tech location Statutory insolvency payments made to employees
Munich, Germany February 23, 2009 Qimonda AG (OTC: QMNDQ) has maintained liquidity since
applying to open insolvency proceedings on January 23, 2009, thus fulfilling the requirement
necessary in order to continue operation preliminarily. At the same time, the Qimonda management
and a team working for the preliminary insolvency administrator Dr. Michael Jaffé have been holding
concrete discussions with numerous international interested parties. The aim is to have firm offers
submitted as soon as possible. Following successful mass production of the first generation of the
innovative Buried Wordline technology at the Dresden facility, the 46nm generation, potentially a
leading technology in the industry, is now to be made ready for production in collaboration with an
investor, with mass production to begin in summer 2009. Furthermore, intensive work is being put
into financing options which would allow production to also continue for a limited period of
several months after March 31, 2009. This would aid the company in successfully concluding the
process of finding an investor, providing concrete indications of interest have been made by the
end of March. The sale of investments is being prepared in parallel with the search for investors
in order to generate liquidity to continue running the core business.
Since applying to open insolvency proceedings, the memory chip manufacturer has cut costs
decisively and, with the agreement of the committee of creditors, focused the liquid funds which
have become available on the development of the 46nm Buried
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Wordline technology. Meanwhile, the US subsidiaries Qimonda North America Corp. and Qimonda
Richmond L.L.C. filed for creditor protection under Chapter 11 on February 20, 2009. No disruptions
to operations, particularly to customer deliveries, are expected to result from this.
However, even if the search for an investor is successful, further restructuring measures and
redundancies cannot be ruled out. Preliminary talks with the works councils in Dresden and Munich
will begin this week in order to discuss the procedures for potential transitional or employee
outplacement companies and support for the employees affected. The employees received statutory
insolvency payments for the month of January in mid-February; the payment for the month of February
is due in March. The employees are to receive salary payments from the statutory insolvency regime
up to and including the month of March.
The company emphasises the special meaning Qimonda has for Germany as a high-tech location and is
in continued negotiations with political decision makers in Saxony, Bavaria, Germany, Portugal and
the European Union. The governments have signalled their willingness to participate in the
financing if necessary, when Qimonda has found an investor for the company. Our business plan
demonstrates the sustainability of Qimonda. Qimondas leading position in the DDR3-technology was
just recently confirmed by Intel. We have to keep this technology in Germany; said Kin Wah Loh,
President and CEO of Qimonda AG.
A solution involving new investors must be found by end of March in order to assure the
continuation of operations at Qimonda. No final decisions have yet been taken concerning the future
structure of the company, including whether those of its
Page 3 of 3 February 23, 2009
businesses that can be continued will be held through Qimonda AG or placed in a new company owned
by new investors. In the latter case, or if investors cannot be found to finance the continuation
of Qimondas businesses, Qimonda AG would likely be liquidated.
About Qimonda
Qimonda AG (OTC: QMNDQ) is a global memory supplier with a diversified DRAM product portfolio. The
company generated net sales of Euro 1.79 billion in financial year 2008 and had prior to its
announcement of a repositioning of its business approximately 12,200 employees worldwide. The
company provides DRAM products with a focus on infrastructure and graphics applications, using its
power saving technologies and designs. Qimonda is an active innovator and brings high performance,
low power consumption and small chip sizes to the market based on its breakthrough Buried Wordline
technology. Qimonda is currently continuing its operations while in the early stages of insolvency
proceedings under German law. Further information is available at
www.qimonda.com.
Disclaimer
This press release contains forward-looking statements based on assumptions and forecasts made by
Qimonda management and third parties. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking statements. These statements are
based on current plans, estimates and projections, and speak only as of the date they are made. We
undertake no obligation to update any of them in light of new information or future events. These
forward-looking statements involve inherent risks and are subject to a number of uncertainties,
including trends in demand and prices for semiconductors generally and for our products in
particular, the success of our development efforts, both alone and with our partners, the success
of our efforts to introduce new production processes at our facilities and the actions of our
competitors, the availability of funds for planned investments and repositioning efforts and the
outcome of antitrust investigations and litigation matters, as well as other factors. We caution
you that these and a number of other known and unknown risks, uncertainties and other factors could
cause actual future results, or outcomes to differ materially from those expressed in any
forward-looking statement. These factors include those identified under the heading Risk Factors
in our most recent Annual Report on Form 20-F which is available without charge on our website and
at www.sec.gov
For the Business and Trade Press
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Public Relations
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Name
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Phone
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E-mail |
Worldwide Headquarters
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Ralph Heinrich
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+49 89 60088 1300
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ralph.heinrich@qimonda.com |
U.S.A.
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Glen Haley
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+1 919 677 4554
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glen.haley@qimonda.com |
Asia
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Isabel Chen
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+886 2 8170 8177
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isabel.chen@qimonda.com |
Investor Relations Worldwide
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Andreas Schaller
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+49 89 60088 1200
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andreas.schaller@qimonda.com |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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QIMONDA AG
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Date: February 26, 2009 |
By: |
/s/ Kin Wah Loh
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Kin Wah Loh |
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Chief Executive Officer and
Chairman of the Management Board |
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By: |
/s/ Thomas J. Seifert
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Thomas J. Seifert |
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Chief Operating Officer,
Chief Financial Officer and
Member of the Management Board |
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