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1ST Chief Executive Carlo Bozotti declined to comment on who was behind the new customer contract.
2Bozotti said that he could not yet provide details because the company is still in negotiations on its exit options.
3The problems were deep-rooted and would take time to resolve, CEO Carlo Bozotti said in a conference call on Tuesday.
4Bozotti said on Wednesday the company saw no improvement in customer bookings during October, the first month of its fourth quarter.
5Bozotti ruled out bidding for U.S. rival Fairchild Semiconductor after ST was rumoured earlier this week to be considering an offer.
6Bozotti said the group saw an uptick in demand in January but needed more time to make sure the trend was sustainable.
7But it's hard to cope with sudden, brutal cuts in volumes at your biggest customer, CEO Carlo Bozotti said in a conference call.