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Diodes Incorporated Completes Acquisition of Texas Instruments’ Greenock, Scotland Wafer Fabrication Facility and Operations
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.
“In addition to welcoming the GFAB team, Diodes extends our continued appreciation to the Scottish Government,
Commenting on the closing of the transaction, Derek Mackay MSP, Scottish Government Cabinet Secretary for the Economy, said, “I am grateful to Diodes and
Inverclyde Council Leader, Councillor Stephen McCabe, said, “It is excellent news that the deal has been agreed upon between
Also commenting on the completion of the acquisition,
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Cautionary Information Regarding Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements as to: the expected benefits of the acquisition, including the acquisition being immediately accretive; the expected benefits of the new multi-year wafer supply agreement; the expected significant revenue and profit dollar growth over the next several years; and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “will” and similar expressions. Potential risks and uncertainties include, but are not limited to, such factors as: the possibility that the transaction may not be consummated, including as a result of any of the conditions precedent (including the failure to obtain any required approvals); the risk of global market downturn conditions and volatilities impacting the completion of the acquisition; the risk that GFAB will not be integrated successfully into Diodes’ overall business; the risk that the expected benefits of the acquisition may not be realized, including the realization of the accretive effect of the acquisition; the risk that GFAB’s standards, procedures and controls will not be brought into conformance within Diodes’ operation; difficulties in transitioning and retaining GFAB employees following the acquisition; difficulties in consolidating facilities and transferring processes and know-how; the diversion of our management’s attention from the management of our business; Diodes may not be able to maintain its current growth strategy or continue to maintain its current performance, costs and loadings in its manufacturing facilities; risks of domestic and foreign operations, including excessive operation costs, labor shortages, higher tax rates and Diodes’ joint venture prospects; unfavorable currency exchange rates; and the impact of competition and other risk factors relating to our industry and business as detailed from time to time in Diodes’ filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20190401005145/en/
Source:
Media Contact:
Diodes Incorporated
Julie Holland
VP, Corporate Operations
P: 972-987-3900
E: Julie_Holland@diodes.com
Company Contact:
Diodes Incorporated
Laura Mehrl
Director, Investor Relations
P: 972-987-3959
E: laura_mehrl@diodes.com
Investor Relations Contact:
Shelton Group
Leanne K. Sievers, President
P: 949-224-3874
E: lsievers@sheltongroup.com