Benzinga | Dec 1, 2021 12:38PM EST

Micron, UMC Deepen Relation To Strengthen Supply Chain

* Micron Technology Inc (NASDAQ:MU) deepened its business relationship with United Microelectronics Corp (NYSE:UMC), providing Micron opportunities to secure supply for automotive, mobile, and customers into the future.

* "Expanding our relationship with UMC helps us strengthen our customers' supply chains and is a great opportunity to increase collaboration across the semiconductor industry," EVP Manish Bhatia said.

* "This expanded relationship provides Micron continuing access to products that are critical to our automotive and mobile customers, and we look forward to working with UMC in the coming years to deliver our industry-leading memory and storage solutions to our customers globally."

* Safeguarding of the global supply chain assumed immense importance following a widespread disruption by the pandemic and chip crisis.

* Related Content: Key Takeaways From White House Chip Crisis Meet

* Price Action: UMC shares traded higher by 8.47% at $12.62 on the last check Wednesday.