Siemens finally gets shot of UK fab
Atmel and UK Govt come up with the readies
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. ®
Siemens looks to unload UK chip plant
Siemens to repay UK grant
Siemens to spin off chip business
End of the line for Siemens MBO hopes
German company Siemens owes Brits £50 million
Siemens Tyneside plant 'saved' by Chinese
Siemens prepares to rid itself of semiconductor business
Siemens blames IMF-backed Koreans for DRAM closure
Siemens steps up attempt to sell fab