Atmel sells wafer facility in Texas

Atmel Corp. has announced the sale of its Irving, Texas wafer fabrication facility for $38 million. The sale of the non-core facility is expected to help Atmel optimize its operations and reduce manufacturing costs.

"The sale of our Irving facility is another positive step in our plans to consolidate Atmel's manufacturing operations, focus resources on our core technologies and increase shareholder value," said Steve Laub, Atmel president and CEO. "We are making measurable progress improving Atmel's financial strength, and will be announcing and implementing additional actions throughout 2007."

Details of the buyer of the fab were not disclosed by the company.