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Siemens finally gets shot of UK fab

Atmel and UK Govt come up with the readies

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As reported by The Register over a week ago, Siemens looks to unload UK chip plant, US wireless communications chip maker Atmel has agreed to take over Siemen's North Tyneside chip plant, mothballed since 1998.

Atmel has secured a £28 million grant from the UK Government and is believed to be paying Siemens around $35 million in the deal which could also see Atmel invest a further £700 million in the plant. Up to 1,500 jobs could be created in the move.

It is not known if HM the Queen will be asked back to open the plant for a second time. ®

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