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30 November 2007


Filtronic negotiating sale of compound semiconductors division

Filtronic plc of Shipley, UK has reached a non-binding 'heads of terms' agreement with a selected party for the sale of Filtronic Compound Semiconductors Ltd in Newton Aycliffe, County Durham, UK (home to the firm’s six-inch gallium arsenide wafer fabrication plant).

Filtronic says that deal involves no initial consideration, but there is the potential for deferred payment depending on the achievement of certain targets. Filtronic Compound Semiconductors’ pension liabilities would remain with Filtronic plc.

The terms of the transaction include specified due diligence that must be completed by the proposed purchaser prior to the execution of a definitive agreement.

See related items:

Filtronic forecasts return to profit this year, pending sale of Compound Semiconductors division

Filtronic to cut 115 jobs as RFMD decides to cease buying GaAs pHEMT switches in September

Filtronic confirms cut in compound semi capex due to lower-than-expected demand

Filtronic shaves around £5m off expansion plan

Filtronic plans expansion of its compound semiconductor division

Search: Filtronic GaAs