DGAP-News: Elmos Semiconductor SE: Sale of wafer fab in Dortmund to the MEMS foundry Silex Microsystems AB - Long-term supply agreement until at least 2027 signed
DGAP-News: Elmos Semiconductor SE
/ Key word(s): Disposal/Agreement
Expansion into MEMS and transfer of new wafer processing technologies provide a long-term perspective for the Dortmund wafer fab and its employees
Dortmund, December 14, 2021: Today, Elmos Semiconductor SE (FSE: ELG) and Silex Microsystems AB (Silex), a global leading MEMS foundry, signed a sale and purchase agreement (SPA) to transfer the Elmos 200mm wafer fabrication activities at the Dortmund location (fab) to Silex. Elmos will sell its wafer fabrication activities in Dortmund for a net purchase price of 77.5 million Euro plus around 7 million Euro for the work-in-progress inventory. The total purchase price therefore is around 85 million Euro.
The closing of the transaction is expected to take place in the second half of 2022 and is subject to customary closing conditions and regulatory approvals.
Based in Järfälla, Sweden (near Stockholm), Silex Microsystems AB is a global leader for MEMS foundry manufacturing (microelectromechanical systems) and offers state-of-the-art MEMS production of advanced sensors and actuators, mainly for medical, consumer, telecommunication, industrial and automotive applications.
To accommodate the acquisition, Elmos will transfer all relevant assets and contracts that are directly linked to the wafer manufacturing into the newly founded stand-alone foundry operation. At closing, Silex will acquire 100% of the shares of this entity, including direct and indirect personnel under the leadership of the former management of the Elmos fab. Elmos will remain the owner of the building but will lease the clean room to Silex based on a long-term lease agreement. Elmos will also provide the necessary infrastructure, utilities, IT-support and licenses to Silex based on separate lease and service agreements. The testing activities for Elmos products will remain at Elmos Semiconductor SE.
In addition, Elmos and Silex have entered into a long-term supply agreement until at least 2027, with Elmos buying processed wafers produced at the fab.
"Although Elmos is on a growth path, the customer demand for our 350nm automotive products will decline in the long term, as smaller node size products will be used in the future. Today's agreement with Silex provides a promising and long-term perspective with new products and technologies for this location. We are very happy and convinced that we have found a very good and sustainable solution for our employees, our customers and the Dortmund location," says Dr. Arne Schneider, CEO of Elmos Semiconductor SE.
"The acquisition of this automotive qualified 8-inch wafer fab will be an important milestone in our successful growth strategy. The Elmos fab, with its efficient high quality wafer processing operation and highly experienced team, is a perfect fit for our needs and opens up new possibilities for Silex. This transaction will help us in achieving our goal to become the industry's most advanced and efficient provider of advanced wafer foundry manufacturing. The Silex team is very proud to continue and expand the wafer fabrication operation at this location," says Dr. Edvard Kälvesten, CEO, Board Member and Founder of Silex Microsystems AB.
Dr. Arne Schneider and Dr. Edvard Kälvesten
14.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Elmos Semiconductor SE|
|Phone:||+49 (0)231 7549-575|
|Fax:||+49 (0)231 7549-111|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1257655|
|End of News||DGAP News Service|