Intel Corp and Siemens AG have wasted little time in trying to find a buyer for their failed BiiN Inc fault-tolerant systems venture, and yesterday announced that the business was to be liquidated. The partners were unable to find a buyer for the Hillsboro, Oregon plant, and the 10 US sales offices will now be closed and the 113 systems that have been installed around the world will be recalled and written off. The total cost of the liquidation could be as high as $100m; the partners had invested $250m in the venture up to July this year. Intel already took a $35m pre-tax write-off against its share of the costs in its third quarter figures.
