SUNNYVALE, Calif. and TOKYO -- Spansion Inc. (NASDAQ:SPSN) , the world's largest pure-play provider of Flash memory solutions today announced it has closed the sale of Spansion Japan's older JV1 and JV2 Manufacturing Facilities in Aizu-Wakamatsu, Japan to Fujitsu Limited and to Fujitsu's subsidiary company, Fujitsu Semiconductor Technology, Inc. pursuant to an Asset Purchase Agreement between the parties dated September 28, 2006. Under the terms of the agreement, Fujitsu has paid Spansion approximately $150 million in cash and will continue production of Spansion(R) Flash memory products as a foundry for Spansion.
Spansion intends to use the cash from the transaction, combined with structured financing, to fund Spansion's SP1 300mm manufacturing facility in Aizu-Wakamatsu.
"We look forward to working with Fujitsu as a foundry partner. This agreement enables us to focus our capital on leading-edge technologies, provide flexible supply in times of peak demand while continuing a long-term and stable supply to our customers," said Bertrand Cambou, president and CEO, Spansion Inc. "Our SP1 plans are on track and we expect to be the only NOR Flash memory provider producing solutions on 300mm later this year."
-- Spansion's Flash memory production capabilities include:
-- 65nm and 90nm MirrorBit capacity at Spansion's Fab 25 facility in
-- 65nm production capacity planned on 300mm wafers later this year at SP1
-- 45nm on 300 mm wafers in mid 2008 at SP1
-- 110nm MirrorBit capacity at Spansion's JV3 facility in Aizu-Wakamatsu
-- Foundry relationship with TSMC for 110nm and 90nm MirrorBit technology
-- Foundry relationship with Fujitsu for JV1 and JV2 for MirrorBit and/or
floating-gate aluminum metal layer products
About Spansion Japan
Following the completion of this sale, Spansion Japan now has over 2,000 employees. Its Japan headquarters are in Kawasaki-city, its JV-3 and SP1 fabs are located in Aizu; and its design center is near Nagoya-city. Spansion Japan serves the Japan market through the Fujitsu sales channel.
Spansion is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in the wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing and selling Flash memory solutions. For more information, visit http://www.spansion.com/.
CONTACT: Press Contact: Michele Landry, Spansion Public Relations,
+1-408-616-1170, or firstname.lastname@example.org; or Koichi Wakamatsu, Spansion
Japan Public Relations, +81-(44)223-1796, or Koichi.email@example.com; or
Investor Contact, Bob Okunski, +1-408-616-1117, or Bob.firstname.lastname@example.org
Web site: http://www.spansion.com/