Despatch Industries entered into a cooperative agreement with Japan Semiconductor Technology Inc. to develop a new magnetic annealing tool for processing magnetic RAM semiconductor wafers.

Despatch Industries, Minneapolis, entered into a cooperative agreement with Japan Semiconductor Technology Inc., a subsidiary of Kobe Steel Ltd. of Japan, to develop a new magnetic annealing tool for processing magnetic RAM (MRAM) semiconductor wafers.

A magnetic annealing tool uses heat to set the axes of magnetic materials during magnetic RAM (MRAM) wafer production. Production began early this year at Despatch's Lakeville, Minn., manufacturing facility, and the first tool is scheduled for completion this summer.