ALL CATEGORIESToday a news about Diodes and TI, the original text is as follows: Diodes Incorporated, a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic, analog and mixed-signal semiconductor markets, today announced it has completed the transaction to acquire Texas Instruments’ (“TI”) wafer fabrication facility and operation located in Greenock, Scotland (“GFAB”).
As previously announced, Diodes will integrate the Greenock facility and fab operations, including the transfer of all GFAB employees to Diodes. In addition, Diodes is extending offers for permanent employment to 18 contractors who have been supporting the GFAB operation. As part of a multi-year wafer supply agreement, Diodes will continue to manufacture TI’s Analog products from GFAB as TI transfers into its other wafer fabs. The 318,782 square-foot facility has a potential capacity of up to 21,666 wafer starts or 256,000 8” equivalent layers per month, depending on product mix.
“We are pleased to successfully complete this transaction and expect it to be immediately accretive,” said Diodes’ President and Chief Executive Officer, Dr. Keh-Shew Lu. “The GFAB acquisition is well aligned to our strategic growth initiatives, especially our expansion in the automotive and industrial markets. We are also excited by the opportunity to add GFAB’s strong engineering capability and additional wafer fab capacity and anticipate GFAB will play a significant role in achieving our revenue and profit dollar growth goals. With the close of the transaction, we will now turn our attention to aggressively ramping new wafer fab processes and capabilities at GFAB to support Diodes’ strategic plan.”
“In addition to welcoming the GFAB team, Diodes extends our continued appreciation to the Scottish Government, Scottish Development International and Inverclyde Council, who have supported us throughout this process,” said Dr. Lu.
Commenting on the closing of the transaction, Derek Mackay MSP, Scottish Government Cabinet Secretary for the Economy, said, “I am grateful to Diodes and Texas Instruments for the way in which they have worked with each other and the Scottish Government and our agencies and partners to reach this successful conclusion. The acquisition of GFAB marks a new and exciting chapter for the plant, which will see continued production and employment in Greenock under Diodes. We look forward to working with Diodes for many years to come.”
Inverclyde Council Leader, Councillor Stephen McCabe, said, “It is excellent news that the deal has been agreed upon between Texas Instruments and Diodes. These deals can be complex and difficult, and it is to the credit of both companies that it has been concluded so quickly. Texas Instruments has been a strong and active part of the business community in Inverclyde for many years, and we hope that the smooth transition to Diodes will now see them become as much of an active feature of the strong and vibrant Inverclyde business sector.”
Also commenting on the completion of the acquisition, Paul Lewis, managing director of Scottish Development International, said, “It gives me great pleasure to see this project reach a positive outcome and secure these important jobs on-site. We look forward to working with Diodes as it establishes its presence in Scotland.”