Atmel Completes Sale of Manufacturing Operation in Heilbronn, Germany

SAN JOSE, Calif., Dec. 31 /PRNewswire-FirstCall/ -- Atmel(R) Corporation (NASDAQ: ATML) today announced that it has completed the previously announced sale of the Company's wafer fabrication operation in Heilbronn, Germany to Tejas Silicon Holdings (UK) Limited ("TSH(UK)"), enabling Atmel to achieve its goal of reducing the number of its manufacturing facilities from five to two in 2008.

"Today's announcement is a further step in our aggressive transformation plan to enhance Atmel's competitive position and unlock the value inherent in Atmel for our stockholders," said Steven Laub, Atmel's President and Chief Executive Officer. "Atmel continues to increase its focus on and investment in its high-growth, high margin proprietary product lines. We have already divested or shut down 14 non-core product lines, while consolidating or streamlining others. In addition, we have divested or closed three wafer fabrication facilities as we implement our fab-light strategy. We look forward to continuing to build on this momentum."

As part of the agreement between TSH(UK) and Atmel, approximately 260 Atmel employees directly associated with fab operations and other support functions are now part of TSH(UK).

About Atmel

Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel provides the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.

Safe Harbor for Forward-Looking Statements

Information in this release regarding Atmel's forecasts, outlook, expectations and beliefs are forward-looking statements that involve risks and uncertainties. These statements include statements about Atmel's transformation plan, product focus and investment, and strategies. All forward-looking statements included in this release are based upon information available to Atmel as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions; the inability to realize the anticipated benefits of our recent strategic transactions, restructuring plans and other initiatives in a timely manner or at all; unanticipated costs and expenses or the inability to identify expenses which can be eliminated; difficulties encountered in connection with the divestiture; and other risks detailed from time to time in Atmel's SEC reports and filings, including our Form 10-K for the year ended December 31, 2007, filed on February 29, 2008, and our subsequent Form 10-Q reports.

     Investor Contact:                  Media Contact:
     Robert Pursel                      Barrett Golden / Sharon Stern
     Director of Investor Relations     Joele Frank, Wilkinson Brimmer Katcher
     408-487-2677                       212-355-4449

Web site: http://www.atmel.com/


Rating:


Review Article Be the first to review this article
Featured Video
Jobs
Technical Marketing Manager Valley for EDA Careers at San Jose, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
SOC Logic Design Engineer for Global Foundaries at Santa Clara, CA
Principal Engineer FPGA Design for Intevac at Santa Clara, CA
Sr. Staff Design SSD ASIC Engineer for Toshiba America Electronic Components. Inc. at San Jose, CA
Upcoming Events
DVCon 2017 Conference at DoubleTree Hotel San Jose CA - Feb 27 - 2, 2017
IoT Summit 2017 at Great America ballroom, Santa Clara Convention Center Santa Clara CA - Mar 16 - 17, 2017
SNUG Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Mar 22 - 23, 2017
CDNLive Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Apr 11 - 12, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy