Tuesday, September 29, 2009
A U.S. bankruptcy judge has approved the purchase by Texas Instruments Inc. of semiconductor manufacturing equipment from Qimonda AG's fab in Sandston, Va.
According to court documents, U.S. Bankruptcy Judge Mary F. Walrath last week approved the deal, worth $172.5 million.
A spokesperson for TI confirmed that the judge approved the sale but noted that the deal was still subject to other regulatory approval.
Qimonda's U.S. subsidiaries, Qimonda North America Corp. and Qimonda Richmond LLC, filed for Chapter 11 bankruptcy protection on Feb. 20, nearly a month after the parent company filed for insolvency protection in Germany.
Qimonda halted production at the Sandston fab in February. Reports surfaced last month that TI was interested in buying some of Qimonda's U.S. assets.
The TI spokesperson said on Monday that TI plans to use the equipment in the production of analog semiconductors.
The deal does not include the Sandston fab itself. The building apparently remains for sale.
By: DocMemory
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