Electronics Production | October 09, 2007
Atmel divests its N. Tyneside facility
Atmel announces the sale of its manufacturing facility in North Tyneside, U.K.
Atmel Corporation today announced that it has entered into separate agreements with TSMC (Taiwan Semiconductor Manufacturing Company, Ltd.) and Highbridge Business Park Limited for the sale of its eight-inch wafer fabrication equipment and related property located in North Tyneside, United Kingdom. The sale is subject to customary closing conditions, including a comprehensive consultation exercise with employees in accordance with best United Kingdom employment relations practice. Atmel had previously announced its intention to sell this facility as part of its strategic restructuring initiatives to reduce costs, accelerate growth and enhance profitability. "The sale of our North Tyneside facility is a major step forward in transitioning Atmel to a fab-lite manufacturing model, which will improve our cost structure and increase shareholder value," said Steven Laub, Atmel's President and Chief Executive Officer. "We are making measurable progress in enhancing Atmel's competitive position as we implement our strategic restructuring initiatives and optimize our manufacturing capacity to improve Atmel's financial strength." Mr. Laub continued, "Atmel has many hard working, dedicated employees, who serve our customers and our company admirably. We are committed to treating employees with respect and helping ease the transition for employees at the North Tyneside facility as production is concluded." To ensure a seamless transition for its customers, Atmel will continue to manufacture products at the North Tyneside facility into the first quarter of 2008, during which time production will be redeployed to the Company's manufacturing operations in Colorado Springs, Colorado and Rousset, France as well as to external foundries. Under the terms of the agreements, TSMC has agreed to purchase Atmel's eight-inch wafer fabrication equipment, and Highbridge Business Park Limited has agreed to purchase the North Tyneside land and buildings for a combined total of $124 million in cash. The Company expects to record a gain of up to $40 million offset by related restructuring charges of up to $50 million. The timing for recording the gains and restructuring charges will be determined once all selling contingencies and closing conditions are finalized. The transaction is expected to be approximately neutral on a cash flow basis after the elimination of $35 million of debt and the recognition of other financial charges. This sale follows the previously announced sale of Atmel's Irving, Texas wafer fabrication facility for approximately $38 million in cash. With these transactions and the progress on the Company's other restructuring initiatives, Atmel continues to increase its focus on and investment in the Company's high-growth, high-margin proprietary product lines.
Czech company acquires German PCB manufacturer Gatema a.s. has completed the biggest acquisition in its history to date. The Czech Republic-based has purchased Germany's Kubatronik – Leiterplatten GmbH Company, a company focused on the development and manufacturing of prototype and test boards.
Eltas new plant paves way for more complex electronics Slovenian electronics specialist Eltas recently inaugurated its new production facilities in Šentjernej. An investment that will see them expanding their product portfolio to include more advanced solutions.
GM: Detroit-Hamtramck to be EV assembly only GM announced today a USD 2.2 billion investment at its Detroit-Hamtramck assembly plant that will make it the automaker’s first facility completely dedicated to EV auto assembly.
Indra opens massive radar factory as it concentrates its manufacturing The new factory, located in San Fernando de Henares, will concentrate the company’s entire radar manufacturing for civil and military use.
New production lines installed at ESCATEC Penang Several new production lines are being set up at the company’s main facility in Penang, which hosts ESCATEC Electronics (EEM) and ESCATEC Medical (EDM).
Greg Grace takes the helm as MD of Incap Estonia Greg Grace has been appointed Director, Operations Estonia, and Managing Director of Incap Electronics Estonia, and member of Incap Group’s Management Team.
NA semi equipment industry posts December 2019 billings North America-based manufacturers of semiconductor equipment posted USD 2.49 billion in billings worldwide in December 2019 (three-month average basis), according to SEMI.
NOTE increases deliveries to Hövding Hövding 3, the latest version of the company’s airbag helmet, is fully ramped up at NOTE’s plant in China.
Eguana inks deal for residential energy storage systems Eguana Technologies Inc. has entered into a development contract with an unnamed renewable energy company to develop and certify proprietary residential storage systems for distribution through its sales channels across global markets.
BlueRing Stencils picks up Stone Mountain Tool BlueRing Stencils has acquired Georgia-based tooling supplier Stone Mountain Tool.
Bosch increases its stake in fuel-cell expert Ceres Power Bosch has increased its stake in Ceres Power from 3.9% to circa 18%. Bosch’s total investment in the company will be approximately 90 million euros.
Haldex Heidelberg staff urges management to reconsider the closure It was back in October of 2019 that Haldex announced that it was streamlining its production in Europe, a decision that would see the move of production from Heidelberg in Germany to Szentlörincskáta in Hungary.
Foxconn’s Gou: WI plant operational this year Foxconn Technology Group founder Terry Gou is indicating that the company’s new manufacturing facility in Mount Pleasant, Wisconsin, still currently under construction after multiple slowdowns, will generate products beginning this year.
Zentech acquires Trilogy Circuits LLC Zentech Manufacturing has acquired Texas-based Trilogy Circuits LLC, a provider of EMS services to military primes and other high-reliability industries in Texas and across the United States.
Markus Jeck to take lead of Enics Switzerland EMS provider Enics has appointed Markus Jeck as the new General Manager of Enics Switzerland.
Hanwha Precision Machinery launches tech centre in Germany Hanwha Techwin Automation Americas' – formerly Samsung C&T Automation – unit, Hanwha Precision Machinery, has launched an integrated tech centre for Europe in Germany to accelerate its global expansion.
TTM Technologies to sell four China manufacturing plants TTM Technologies is executing a definitive agreement under which the company has agreed to divest its four China manufacturing plants – which make up substantially all of the assets of its Mobility business unit.
Incap acquires AWS Electronics EMS provider Incap has signed an agreement to acquire 100% ownership of AWS Electronics Group.
Ampleon, Rochester Electronics ink deal RF power products supplier Ampleon and semiconductor manufacturer Rochester Electronics have forged a strategic partnership to extend the global supply of Ampleon’s VDMOS portfolio of high-performance RF transistors.
Trust Automation appoints new COO California-based Trust Automation Inc., a supplier of automation technology for industrial and defense applications, has welcomed Teddy Ross to the company as chief operations officer, effective immediately.
TDK Ventures invests in SLD Laser TDK Ventures Inc., a subsidiary of TDK Corporation, has invested in SLD Laser, a specialist in the use of gallium nitride (GaN) in the commercialization of visible laser light sources for multiple applications including automotive, mobility, medical, and specialty lighting.
Sono Motors hits its target - community funding works The Munich-based mobility provider Sono Motors has successfully completed the extension of its campaign to finance the company and has exceeded its target of EUR 50 million.
New group structure at Mycronic aimed securing future growth Swedish creator of production equipment, Mycronic, has grown quite a bit during the last years; both organically but also through acquisitions. And with that growth some structure is in order.Load more news