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LSI to sell Gresham fab to ON Semi for $105M

Posted: 21 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:LSI Logic? ON Semiconductor? fab?

LSI Logic Corp. announced that it has signed a definitive agreement to sell its Gresham, Oregon semiconductor manufacturing facility to ON Semiconductor Corp.'s primary operating subsidiary, Semiconductor Components Industries LLC, for approximately $105 million in cash.

The agreement calls for ON Semi's subsidiary to purchase the 83 acre wafer fabrication facility campus, consisting of multiple buildings with approximately 500,000 square feet of floor space, including an estimated 98,000 square feet of cleanroom space. The assets to be purchased also include a 200mm-capable toolset and equipment that can produce 18,000 8-inch wafers per month.

Under the terms of the agreement, Semiconductor Components will offer employment to substantially all of the LSI manufacturing employees based at the Gresham site, with the remaining non-manufacturing workforce expected to continue their employment with the company. Additional agreements also include a multi-year wafer supply and test agreement, intellectual property license agreement, transition services agreement and a facilities use agreement.

"We are very pleased to have secured a buyer interested in both the advanced manufacturing capabilities and the experienced workforce associated with our Gresham facility," said Abhi Talwalkar, president and CEO, LSI. "As a result of this agreement, we anticipate providing uninterrupted service to customers while enhancing LSI competitiveness as we continue to execute our fabless manufacturing strategy."




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