20th Dec 2007 12:30
Filtronic PLC20 December 2007 Filtronic plc announces the sale of its Compound Semiconductor business to RF Micro Devices Inc Filtronic plc ('Filtronic') announces a definitive agreement for the sale of allof the share capital of Filtronic Compound Semiconductors Limited ('FCSL') to RFMicro Devices Inc ('RFMD') for £12.5m cash. The transaction is expected tocomplete on 29 February 2008. The agreement provides for ongoing supply to Filtronic's Point to Point businessfor at least 3 years and for it remaining at its current site. FCSL carries out Filtronic's business in Compound Semiconductors through itsfabrication facility at Newton Aycliffe in the UK. The gross value of itsassets is £23.5m as at 31 May 2007 with underlying losses before exceptionalitems attributable to the assets for the year ended 31 May 2007 of £1.5m and aheadline loss including exceptional items of £29.0m. Following completion, Filtronic will cease its activities in compoundsemiconductor manufacture and supply. FCSL will enter into a supply contractand lease, including provision of support services, to its Point to Pointbusiness. The proceeds of the sale will be retained within Filtronic's generalcorporate resources. Contacts:Filtronic plcJohn Poulter, Chairman 01274 415 306Charles Hindson, Chief Executive 07800 706 319 (mobile) Parkgreen Communications Ltd 020 7479 7933Paul McManus 07980 541 893 (mobile) [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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