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Tower Gains Most in 3 Weeks on Device Development With RedCat

June 25 (Bloomberg) -- Tower Semiconductor Ltd., a maker of customized chips, advanced the most in almost three weeks after the company said it developed radiation-hard integrated circuits with Italy’s RedCat Devices.

The shares rose 2.8 percent, poised for the biggest gain since June 6, to 2.91 shekels, at 12:25 p.m. in Tel Aviv.

For Tower, the technology opens new markets which require components that withstand high doses of radiation, including medical devices, it said in a statement today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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