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Spansion continues asset sale as Suzhou back-end facility sold for US$31 million
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One of four facilities owned by Spansion for final manufacturing has been sold to Powertech Technology for approximately US$31 million. The Suzhou, China facility opened in 1998 and employs 565 workers. Spansion said the sale was in-line with plans to operate more variable, outsourced manufacturing model as it continues to reduce costs as part of its restructuring under Chapter 11 bankruptcy. PTI will provide final manufacturing services to Spansion.
"We expect an uninterrupted supply of products to our customers after the transfer of ownership of the Suzhou facility," said Ajit Manocha, Executive Vice President, Operations at Spansion.
"Spansion is executing on our strategy to refine our business model and focus on our core competencies,” noted John Kispert, Spansion President and CEO. “We believe this agreement will help Spansion emerge from the Chapter 11 process a stronger and more focused company."
Spansion had conducted multi-chip-package (MCP) development and high-volume packaging manufacturing and well as IC testing at the Suzhou facility.