LFoundry Agrees to Acquire Micron Technology Wafer Manufacturing Plant in
BOISE, Idaho and LANDSHUT, Germany, Feb. 25, 2013 (GLOBE NEWSWIRE) -- Micron
Technology, Inc. (Nasdaq:MU) and LFoundry today announced that the companies
have entered into agreements for LFoundry to acquire Micron Technology Italia,
Srl. and all of its semiconductor fabrication facility assets in Avezzano,
Under the agreements, Micron will assign to LFoundry its four-year supply
agreement with Aptina to manufacture image sensors at the 200 millimeter
Avezzano facility. Micron will also grant LFoundry a restricted technology
license. Specific financial terms of the transaction, which is expected to
close later this spring, were not disclosed.
"The manufacturing capabilities of Micron's fab in Avezzano, Italy, together
with our own existing fab and technologies, make this a winning combination
and an important part of our strategic goal in building LFoundry's business
into a premier analog mixed signal and specialty foundry partner for our
customers," said LFoundry CEO Günther Ernst.
"This transaction provides a long-term bridge toward a successful future for
the Avezzano facility," said Micron CEO Mark Durcan. "The transaction not only
preserves the facility and jobs in Avezzano, but it also supports a stable and
long-term wafer supply for Aptina, further enhancing the value of Micron's
equity holdings in Aptina."
LFoundry is a semiconductor specialty foundry based in Germany and France.
More information can be found at http://www.lfoundry.com/.
Micron Technology, Inc., is one of the world's leading providers of advanced
semiconductor solutions. Through its worldwide operations, Micron manufactures
and markets a full range of DRAM, NAND and NOR flash memory, as well as other
innovative memory technologies, packaging solutions and semiconductor systems
for use in leading-edge computing, consumer, networking, embedded and mobile
products. Micron's common stock is traded on the NASDAQ under the MU symbol.
To learn more about Micron Technology, Inc., visit www.micron.com.
The Micron Technology, Inc. logo is available at
Micron and the Micron orbit logo are trademarks of Micron Technology, Inc. All
other trademarks are the property of their respective owners.
This press release contains forward-looking statements regarding the expected
timing of the closing of the transaction. Various factors could cause actual
events or results to differ materially from those anticipated by the
forward-looking statements. Please refer the Risk Factors section of our most
recently filed Form 10-K and Form 10-Q for information on important factors
that could cause the actual results for Micron on a consolidated basis to
differ materially from those contained in our forward-looking statements.
Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements.
CONTACT: Michael Hoesl
Micron Media Relations
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