Report: Intel to Close, Sell Israeli Facilities
January 16, 2007 3:52 PM
comment(s) - last by
STMicroelectronics the likely buyer of Intel's Israeli NOR facilities sources indicate
, sources close to Intel indicate that the chip giant is in the process of
shutting down its chip manufacturing facility in Jerusalem
. The same report also mentions that Intel is considering selling its flash memory manufacturing facility in Qiryat Gat, southern Israel. The buyer is said to be STMicroelectronics, one of the world's largest chip manufacturers. The prices for Intel's Qiryat Gat memory facility is estimated to be roughly $1.5 billion USD but does not include any current debt that Intel might have outstanding.
Intel's Jerusalem facility, also known as Fab 8, was the first Intel wafer fab built outisde the U.S. It first opened in 1985.
When asked to comment, representatives from both Intel and STMicroelectronics declined to comment. STMicroelectronics is also in the business of NOR flash memory, standing at the world's fifth largest manufacturer.
The Marker Online
, published that Intel's flash memory business in Israel may also go to STMicroelectronics -- a company that previously stated it would like to either partner with an existing leader in memory products or purchase from a rival and resell.
Intel previously mentioned that it
would not be laying off any of its employees in its NOR flash memory business
Intel has been shutting down various areas of its business since early 2006, all while making plans and activities to open new facilities world-wide.
reported yesterday that Intel is currently in the process of
opening a new 65nm chip manufacturing facility in China
-- the first of its kind for the region. Intel also has a 45nm facility to enter production later this year in Arizona called Fab 32 and another Israeli facility arriving in 2008.
Even if Qiryat Gat NOR facilities are sold, Intel still has significant resources in its Haifa, Petach Tikva and Yakum design centers.
This article is over a month old, voting and posting comments is disabled
A joint Venture & Reorganization
1/17/2007 2:44:07 AM
Today Tuesday ,Intel is expected to announce its plans for their Israeli operations.
The plan hopefully will be -
*A new company to be set up,jointly held by Intel+STM+Private investor(group),all 3 holding equal stakes in the company.
*Intel & STM sell their Nor Flash business to this firm.
*the investor group will invest around 3 billions USD or more.
#Intel (Kiryat Gat) facility produces the flash memory chips
(for cell phones)
#Intel benefits by a reduction of 5000 employees-in a high volumne manufacturing & a low profitability business in order to stay competitive in the flash market.
# STM has already announced its plan for reorganizing its product segements.
More later on.
"Vista runs on Atom ... It's just no one uses it". -- Intel CEO Paul Otellini
Intel to Open New 65nm Plant in China
January 15, 2007, 4:05 PM
Intel Reorganizes NOR Flash Division But Promises No Lay-offs
May 12, 2006, 9:30 AM
WebOS Class Action Settlement Costs HP $57 Million
April 1, 2014, 10:22 AM
IBM Workers Strike Over Terms of Deal That Will Have Them Working for Lenovo
March 6, 2014, 9:29 AM
Google Picking Up Artificial Intelligence Company "DeepMind" for $400 Million
January 27, 2014, 9:25 AM
Quick Note: Qualcomm Grabs up Palm, IPAQ, and Bitfone Patent Portfolio from HP
January 24, 2014, 9:18 AM
Verizon Buys Intel Media OnCue Cloud TV assets
January 21, 2014, 10:26 AM
Google's First Asian Data Centers Now Operational
December 11, 2013, 8:50 AM
Most Popular Articles
A Bug's Life: Female Cave Bugs Have Penises, Penetrate Males for Three Days
April 17, 2014, 7:20 PM
Quick Note: Toyota Attempts to Erase “Boring” Image with ’15 Camry SE Hybrid
April 16, 2014, 11:36 AM
HTC Hires Former Samsung Marketing Chief Who Developed "Galaxy" Brand
April 18, 2014, 6:00 PM
Project Moonshine: Google's Plan to Flatten Android App Icons Leaks
April 16, 2014, 1:46 PM
Microsoft Announces the First Steps in Its "Universal Apps" Program
April 15, 2014, 7:59 PM
Latest Blog Posts
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information