Sale realises fully
fabless model for LSI
LSI Logic has completed the sale of its Gresham, Oregon semiconductor manufacturing facility to Semiconductor Components Industries
LSI Logic has completed the sale of its Gresham, Oregon semiconductor manufacturing facility to Semiconductor Components Industries, the primary operating subsidiary of ON Semiconductor Corporation, for $105 million. The facility purchased by the ON Semiconductor subsidiary consists of a campus measuring approximately 34Ha, multiple buildings with approximately 46,000m2 of floor space, including approximately 9100m2 of cleanroom space, and a 200mm-capable toolset and equipment that can produce 18,000 8in wafers per month.
Related to the transaction, the ON Semiconductor subsidiary has entered into additional agreements with LSI, including a multi-year wafer supply and test agreement, intellectual property licence agreement, transition services agreement and a facilities use agreement.
The ON Semiconductor subsidiary has also hired substantially all of the LSI manufacturing employees based at the Gresham site, with the remaining nonmanufacturing workforce continuing their employment with LSI.
In September 2005 LSI adopted a fabless manufacturing strategy intended to better serve its global customer base, reduce production costs and adopt leading-edge process technologies.
The closing of this transaction completes the company's transition to a fully fabless model while providing uninterrupted service to customers.
LSI has received approximately $90 million in proceeds to date, with the balance due within 90 days of closing according to the agreement.
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