Electronics Production | October 06, 2005
Atmel sells French operations
Atmel Corporation, a worldwide specialist in the development, fabrication and sale of advanced semiconductors, has entered into an exclusive agreement to sell its Nantes, France manufacturing facility and the related foundry activities to a high tech French corporation, Xby Bus. The facility employs approximately 300 employees.
"We are pleased to be able to reach an agreement that will preserve many jobs in France," said George Perlegos, Chairman and Chief Executive Officer. "Additionally, this is an important step in Atmel's plan to consolidate its manufacturing and reduce costs." XbyBus is planning to develop its activities in high reliability electronic components at the site, particularly in the field of wafer production with proprietary high vacuum processes and plans an investment program of ?30 Million over the next two years. The sale of the Nantes facility is expected to be completed before the end of 2005. Atmel will maintain a significant presence in Nantes with the design of Microcontroller products for the automotive and industrial markets along with its space related activities.