Qimonda closing Sandston plant

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Qimonda AG announced today that it is closing its Sandston plant, which employs almost 1,500 people.

The Germany-based memory chip manufacturer plans to close down by April. About 500 employees will lose their job this week and another 500 people will be laid off I the next month.

Qimonda has filed for insolvency in Germany and is looking for investors. The company has said it will close at the end of March unless it finds investors. (Richmond Times-Dispatch

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