Cirrus Logic Commits to Further Expand MiCRUS Joint Venture.FREMONT, Calif.--(BUSINESS WIRE)--Oct. 23, 1995--Cirrus Logic, Inc. (Nasdaq: CRUS crus (krus) pl. cru´ra [L.] 1. leg (1). 2. a leglike part. crus ce´rebri ) announced today that it has entered into a program to further expand the production capacity at MiCRUS, the joint manufacturing venture it formed with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) last year. The expansion program is estimated at approximately $195 million over a 12-to-18 month period. IBM has an option to purchase up to 50 percent of this expansion. "MiCRUS has demonstrated superb performance since commencing operations in January of this year," said Michael L. Hackworth, president and chief executive officer of Cirrus Logic (company) Cirrus Logic - A manufacturer of integrated circuits including the Advanced RISC Machine and display interface processors and cards for use as Windows accelerators (requiring dedicated driver software). http://cirrus.com/. . "MiCRUS has proved to be an exemplary joint manufacturing venture in terms of quality, yields and productivity." He noted that MiCRUS moved to volume production ahead of schedule, and met approximately 20 percent of Cirrus Logic's revenue-generating capacity in the most recent fiscal quarter. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cirrus Logic, a major portion of the new investment will be used to purchase state-of-the-art capital equipment that will expand planned capacity by approximately 30 percent, and support the migration to the next-generation 0.35-micron process technology. Based in East Fishkill, New York East Fishkill is a town in Dutchess County, New York, United States. The population was 25,589 at the 2000 census. The town name is derived from its formation from Fishkill, NY. The Town of East Fishkill is on the south border of the county. , MiCRUS presently employs more than 800 people. Cirrus Logic is a leading manufacturer of advanced integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. for the desktop and portable computing, telecommunications and consumer electronics markets. The company applies its system-level expertise in analog and digital design to innovate highly integrated, software-rich solutions. Cirrus Logic has developed a broad portfolio of products and technologies for applications spanning multimedia, communications, mass storage, and data acquisition. CONTACT: Cirrus Logic, Inc. Mark Singer, 510/226-2399, mark@corp.cirrus.com (IR) Tom Rigoli, 510/226-2259, trigoli@corp.cirrus.com (PR) |
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