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
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Computer History Museum: the Future of War is Here
More Editorial  
Jobs
REVISED***Director Product Line RF/IC for EDA Careers at San Jose, CA
Senior SW Developer for EDA Careers at San Jose, CA
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, Germany
Upcoming Events
“Empowering Leadership with WIT and WISDOM” at SEMI 673 South Milpitas Blvd. Milpitas CA - Nov 28, 2017
Artificial Intelligence and Convolution Neural Networks Discussion at San Jose State University Student Union Theater San Jose CA - Dec 4, 2017
Silicon Valley's Only Comprehensive Embedded Systems Conference at San Jose Convention Center 150 W. San Carlos St. San Jose CA - Dec 5 - 7, 2017
Oski Technology’s Decoding Formal Club Meeting at The Conference Center San Jose CA - Dec 7, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — 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 PolicyAdvertise