Fairchild Semiconductor Announces the Sale of its LED and LED Display Product Lines to Everlight International Corporation, a US
January 03 2006 - 4:05PM
Business Wire
Fairchild Semiconductor (NYSE: FCS) today announced the sale of its
LED and LED display product lines to Everlight International
Corporation, a US subsidiary of Everlight Electronics Company,
Ltd., of Taiwan. Fairchild will retain its optocoupler and infrared
product lines, intending to grow those businesses through focused
research and development. As part of the sale agreement, Fairchild
will assist Everlight with transitioning the product line by
continuing to directly support the sale of LED and LED display
products to its customers for an appropriate period of time. "It's
our intent to make the sale of this product line seamless to our
LED and LED display customers," said Tom Beaver, executive vice
president of Worldwide Sales and Marketing for Fairchild. "To that
end, our sales force will work closely with our customers, channel
partners and Everlight to handle orders and customer service
requests until the product line can be transitioned and Everlight
is ready to take over the day-to-day operation of these product
sales, which we anticipate will be substantially completed in Q1,
2006. As the foundry manufacturer of LED products for Fairchild,
our customers can look forward to a consistency of supply and
services after the transition is completed." The companies have
agreed not to disclose the financial terms of the sale. "By
divesting these LED and display products, Fairchild is continuing
to sharpen its focus on its core businesses," said Dr. Mark
Thompson, president and CEO of Fairchild. "We will continue to
concentrate our internal investments towards developing our higher
value analog and system power optimization products. We are
retaining the optocoupler and infrared product lines as these
products are closer to and complement our core strategy as The
Power Franchise(R). "Everlight and Fairchild have long partnered in
the LED business so this transition is a winning situation for our
customers, our company and Everlight," continued Thompson.
"Everlight is a committed LED company, both as a foundry partner
and trade supplier, and this sale will support and expand their
business in Asia, Europe and the Americas." About Fairchild
Semiconductor: Fairchild Semiconductor (NYSE: FCS) is the leading
global supplier of high-performance power products critical to
today's leading electronic applications in the computing,
communications, consumer, industrial and automotive segments. As
The Power Franchise(R), Fairchild offers the industry's broadest
portfolio of components that optimize system power. Fairchild's
9,000 employees design, manufacture and market power, analog &
mixed signal, interface, logic, and optoelectronics products.
Please contact us on the web at www.fairchildsemi.com. About
Everlight: Everlight Electronics Company, Ltd., based in Taiwan and
listed on the Taiwan Stock Exchange, manufactures and sells opto
products. Established in 1983 to manufacture LEDs, Everlight
continues to serve customers worldwide of high quality products
from its headquarters in Taiwan and locations around the world.
Special Note on Forward-Looking Statements: Some of the paragraphs
above contain forward-looking statements that are based on
management's assumptions and expectations and that involve risk and
uncertainty. Other forward-looking statements may also be found in
this news release. Forward-looking statements usually, but do not
always, contain forward-looking terminology such as "we believe,"
"we expect," or "we anticipate," or refer to management's
expectations about Fairchild's future performance. Many factors
could cause actual results to differ materially from those
expressed in forward-looking statements. Among these factors are
the following: changes in overall global or regional economic
conditions; changes in demand for our products; changes in
inventories at our customers and distributors; technological and
product development risks, including the risks of failing to
maintain the right to use some technologies or failing to
adequately protect our own intellectual property against
misappropriation or infringement; availability of manufacturing
capacity; the risk of production delays; availability of raw
materials; competitors' actions; loss of key customers, including
but not limited to distributors; the inability to attract and
retain key management and other employees; order cancellations or
reduced bookings; changes in manufacturing yields or output; risks
related to warranty and product liability claims; risks inherent in
doing business internationally; regulatory risks and significant
litigation. These and other risk factors are discussed in the
company's quarterly and annual reports filed with the Securities
and Exchange Commission (SEC) and available at the Investor
Relations section of Fairchild Semiconductor's web site at
investor.fairchildsemi.com or the SEC's web site at www.sec.gov.
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