Atmel to Acquire Hitachi Semiconductor Manufacturing Facility.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Nov. 1, 1999-- Atmel Corporation (Nasdaq:ATML ATML Automatic Test Markup Language ATML Automated Test Markup Language ) today announced that it has signed a Letter of Intent (LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items ) to purchase the Hitachi Semiconductor (America) Inc.'s state-of-the-art 8 inch wafer fabrication facility located in Irving, Texas. This approximately 650,000 sq. foot facility was completed in 1997 and does not include manufacturing equipment. After completion of the transaction, Atmel will begin an installation plan for 0.18 micron manufacturing equipment, and intends to have capacity available by the end of next year. Atmel is acquiring the facility to manufacture advanced semiconductors in particular using silicon germanium (SiGe) BiCMOS processes. Specific financial terms of the planned transaction were not disclosed. The transaction is expected to close by year end. "Atmel is dedicated to meeting the needs and demands of our customers. In this period of very strong demand for our products, we are pleased to announce this transaction as it will greatly enhance our ability to increase the production of our leading edge semiconductors," said George Perlegos, Atmel's president and chief executive officer. "Also, by acquiring this facility, we will significantly save both the time and the expense associated with building a new fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. facility. This will also allow us to take full advantage of the partnership opportunities we are currently developing." "We are pleased to enter into this transaction with Atmel, as it allows Hitachi to better realize our strategic focus," said Kosei Nomiya, chairman of Hitachi Semiconductor (America) Inc. Atmel's Perlegos added, "This transaction will allow Atmel to move quickly to meet the demand of our customers and further our goal of growing Atmel's businesses that leverage our expertise in logic and nonvolatile memory technologies with new technologies such as SiGe BiCMOS. With the potential additional capacity this facility brings, Atmel can better serve our customers with leading edge solutions for emerging wireless and digital applications. We are confident that this transaction will allow us the opportunity to realize major revenue enhancement revenue enhancement An increase in revenues, especially by way of increased taxes. Revenue enhancement includes reducing taxpayer deductions and eliminating tax credits. for Atmel." About Atmel Founded in 1984, Atmel Corporation is headquartered in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. with principal manufacturing facilities in Colorado Springs, Colorado The City of Colorado Springs is the second most populous city (after Denver) in the state of Colorado and the 48th most populous city in the United States.[4] The city is the county seat of El Paso County. , Nantes and Rousset, France and Heilbronn, Germany. Atmel designs, manufactures and markets on a worldwide basis advanced logic, mixed-signal, nonvolatile memory, and RF semiconductors. Atmel is also a leading provider of system-level integration semiconductor solutions using advanced CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. , BiCMOS, BiPolar and SiGe process technologies. For more information, see http://www.atmel.com. About Hitachi Semiconductor (America) Inc. Hitachi Semiconductor (America) Inc. -- a subsidiary of Hitachi America, Ltd., in turn a subsidiary of Hitachi, Ltd. (NYSE NYSE See: New York Stock Exchange :HIT) -- supports the requirements of the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. marketplace with a broad range of standard and low power semiconductor solutions. Offering some of the industry's most popular RISC RISC in full Reduced Instruction Set Computing Computer architecture that uses a limited number of instructions. RISC became popular in microprocessors in the 1980s. microprocessors and memory components among other semiconductor solutions, Hitachi provides chips to the world's leading device manufacturers within industrial, consumer and emerging market applications. The Company's substantial design engineering, research and development facilities in the United States help bring the world's best technology to U.S. customers. For more information, see http://semiconductor.hitachi.com/. Except for historical information contained herein, the matters set forth in this press release are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially, including the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, deterioration of the financial situation in Asia, ability to integrate and manage acquisitions, and other risks detailed from time to time in the Atmel s SEC reports and filings. |
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