Microchip Completes Acquisition of Gresham Facility

August 23, 2002 by Jeff Shepard

Microchip Technology Inc. (Chandler, AZ) announced it has completed its acquisition of a semiconductor manufacturing complex in Gresham, OR, from Fujitsu Microelectronics Inc. (San Jose, CA). Microchip acquired the facility for $183.5 million in cash. Microchip expects that initial hiring will reach approximately 60 people during pre-production phases, and that it could employ approximately 360 people as the Gresham facility reaches high-volume manufacturing capacity over the next five to six years. Microchip currently expects volume production to commence at the Gresham facility by July 2003.