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Cohu Announces Facilities Acquisition.


Business Editors/High-Tech Writers

SAN DIEGO--(BUSINESS WIRE)--Oct. 30, 2000

Cohu, Inc. (Nasdaq:COHU) today announced that it agreed to acquire a 338,000 square-foot building on approximately 20 acres in Poway, California Poway is a city in San Diego County, California, United States. As of the latest 2000 census the city had a population of 48,044 (see Demographics section below). The ZIP code is 92064. . The purchase price of approximately $21.3 million was funded from the Company's cash reserves Cash reserves

See: Cash investments


cash reserves

Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available.
. The Company plans on selling its facilities in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation).
San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951.
 and moving Cohu's corporate headquarters and the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay.  operations of its Delta Design subsidiary to the Poway facility in 2001.

Delta Design, a leading manufacturer of semiconductor test handling equipment, currently occupies 171,000 square-feet in four buildings in San Diego's Kearny Mesa Kearny Mesa is a community in eastern part of San Diego, California. It is located in the area of the city that is bounded by California State Route 52 to the north, Interstate 805 to the west, Aero Drive to the South, and Interstate 15 to the east.  area. Poway is a suburb of San Diego and the new facility is approximately ten miles from the Company's current San Diego location.

James A. Donahue, President and Chief Executive Officer, commented, "As a result of rapid growth in recent years, Delta Design has expanded into all three buildings we own in Kearny Mesa, and into nearby leased space. In Poway, we will consolidate Delta's San Diego operations under one roof and configure manufacturing efficiently on a single floor. Along with Delta's 102,000 square foot facility in Littleton, Massachusetts Littleton is a town in Middlesex County, Massachusetts, United States. The population was 8,184 at the 2000 census.

For geographic and demographic information on the neighborhood of Littleton Common, please see the article Littleton Common, Massachusetts.
, we now have ample space for continued growth in our semiconductor equipment business for the foreseeable future."

Certain matters discussed in this report including statements concerning future growth are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those projected or forecasted. Such risks and uncertainties include, but are not limited to, the Company's ability to convert new products under development into production on a timely basis, support product development and meet customer delivery and acceptance requirements for next generation equipment; the effect of competitive products; the concentration of revenues in a limited number of customers; the cyclical and unpredictable nature of capital expenditures by semiconductor manufacturers; and other risks addressed in the Company's filings with the Securities and Exchange Commission including the most recently filed Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 and Form 10-Q Form 10-Q

See 10-Q.
. The Company assumes no obligation to update the information in this report.

Cohu is a leading supplier of test handling solutions used by the global semiconductor industry as well as a supplier of closed circuit television, metal detection and microwave radio equipment. Additional information on Cohu is available on the internet at www.cohu.com
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Oct 30, 2000
Words:389
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