TriQuint Announces Plans to Purchase Wafer Fabrication Facility
HILLSBORO, Ore. TriQuint Semiconductor, Inc. (Nasdaq:TQNT) announced today that they have entered into a non-binding Memorandum of Understanding with Micron Technology, Inc. pursuant to which TriQuint will purchase Micron s Richardson, Texas, wafer fabrication facility.
The purchase is subject to the negotiation and execution of a definitive purchase agreement. It is currently expected that this transaction will close sometime within the next 90 days. The acquisition of the Richardson facility will provide TriQuint with both an increase in clean room floor space for wafer fab capacity expansion and a home for TriQuint s Texas operation, which is currently housed in leased space at the Dallas campus of Texas Instruments Incorporated.
The facility, located in Richardson, Texas, is four miles from TriQuint s existing Texas operations, has 48,500 square feet configured as Class 1 Clean Room; 10,000 square feet configured as Class 100 clean room; and 80,000 square feet configured as office space. The facility was built to the stringent specifications required for production of dynamic random access memory (DRAM). The purchase includes the surrounding 38-acre campus.
"We are very excited about this strategic event. The new facility has plenty of room to house all of our present TriQuint Texas Operations as well as space for a very high volume six inch wafer manufacturing operation," said Steve Sharp, TriQuint CEO. "By making this move now, TriQuint can provide 6 inch manufacturing of all high volume processes in both Oregon and Teas in 2001. This is clearly a huge advantage to our customers. With the growing dependence on GaAs for high volume communications applications, our customers need a supplier who has high capacity in more than one location and interchangeability of plants to ensure a continuous source of supply. The purchase increases TriQuint total revenue capacity to well over $1,000,000,000 upon full equipment installation."
This press release contains both historical information and forward-looking information. Numerous important factors affect the Company s operating results and could cause the Company s actual results to differ materially from the results indicated in this press release or in any other forward-looking statements made by, or on behalf of, the Company, and there can be no assurance that future results will meet expectations. Results could differ materially based on various factors, including the Company s performance and market conditions. Additional considerations and important risk factors are described in the Company s Report on Form 10-K and 10-Q filed with the Securities and Exchange Commission and the Company s Common Stock Offering Prospectus dated July 13, 1999, copies of which are available on request from the Company.
TriQuint Semiconductor, Inc. (Nasdaq:TQNT) is a leading worldwide supplier of a broad range of high performance gallium arsenide (GaAs) integrated circuits. TriQuint s products span the RF and millimeter wave frequency ranges and employ analog and mixed signal circuit designs. They are used in wireless communications, telecommunications, data communications and aerospace systems. TriQuint offers both standard and customer specific products as well as foundry services. TriQuint s two operations, in Oregon and Texas, are both certified to the ISO 9001 international quality standard.
TriQuint is headquartered at 2300 NE Brookwood Parkway, Hillsboro, OR 97124 and can be reached at 503/615-9000 (fax 503/615-8900). Visit the TriQuint website at http://www.triquint.com.
CONTACT:
Fi.Comm
Heidi Flannery, 503/844-8888
Email: heidi.flannery@ficomm.com
TriQuint Semiconductor, Inc.
Rob Hamilton, 503/615-9407
Fax: 503/615-8901
Email: rhamilton@tqs.com
Fi.Comm
Heidi Flannery, 503/844-8888
Email: heidi.flannery@ficomm.com
TriQuint Semiconductor,
Inc.
Rob Hamilton, 503/615-9407
Fax: 503/615-8901
Email: rhamilton@tqs.com
E-mail: rhamilton@tqs.com
Web site: http://www.triquint.com
