LONDON Tejas Silicon Holdings (UK) Ltd. has completed the acquisition of the Atmel Corp. wafer fabrication operation in Heilbronn, Germany.
The sale follows a leasing agreement announced in September and its completion on December 31 has enabled Atmel to achieve its goal of reducing the number of its manufacturing facilities from five to two in 2008.
“Atmel continues to increase its focus on and investment in its high-growth, high margin proprietary product lines,” said Steven Laub, Atmel's President and Chief Executive Officer. “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.”
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 Tejas.