Report: Intel to Close, Sell Israeli Facilities
January 16, 2007 3:52 PM
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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.
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The source-DAILY TECH
1/17/2007 3:25:43 AM
Some of DAILY TECH previous articles give you all the clues-
According to Intel's press release "Intel currently intends to receive the entire purchase price in cash. However, Intel has the option to take up to $100 million of the $600 million purchase price in Marvell common stock. Upon closing, Marvell may record a one-time charge for purchased in-process research and development expenses."
2006 has been a year of restructuring for Intel. The company made several announcements this year about the reorganization of its memory business. Intel told the press that its NOR memory technology was under examination but promised no layoffs. Intel also announced a deal earlier in the year to jointly develop NAND flash memory with Micron and launched a joint venture called IM Flash Technologies LLC. Intel says that the deal with Marvell will not impact other business areas that focus on the mobile market. Some of Intel's other products use ARM-based technology that Intel previously licensed and the company reassures customers that interruptions will not occur.
The article clearly says-
"2006 has been a year of restructuring for Intel. The company made several announcements this year about the reorganization of its memory business. Intel told the press that its NOR memory technology was under examination but "
"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997
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Intel Reorganizes NOR Flash Division But Promises No Lay-offs
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