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Atmel Signs Memorandum of Understanding to Sell Nantes Facility |
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Oct 05, 2005 at 06:59 PM |
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Atmel Corporation has found a buyer for its 150mm BiCMOS fab in Nantes. France, which
it put up for sale in May of this year as part of a facility rationalization
plan.
A private
French company, XbyBus, which is developing seems to be developing
nanotechnology for military applications and also developing vacuum tool
technology has signed a MOU to purchase the fab and plans a two year investment
programe of 30 million Euros.
"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."
The sale of the Nantes fab should be completed before
the end of 2005.
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