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Exhibit 99.1
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P R E S S R E L E A S E
FOR IMMEDIATE RELEASE
Heidi Flannery Rob Hamilton
Investor Relations Counsel Dir. Strategic Marketing &
Fi.Comm Communications
Tel: (503) 844-8888 Tel: (503) 615-9407
Email: heidi.flannery@ Fax: (503) 615-8901
ficomm.com Email: [email protected]
TriQuint Semiconductor Completes Purchase of Richardson, Texas
Fabrication Facility; Capacity Expansion to $1 Billion Planned.
HILLSBORO, Ore.--(BUSINESS WIRE)--Sept. 5, 2000--TriQuint
Semiconductor, Inc. announces the close of escrow for its purchase of a wafer
fabrication facility in Richardson, Texas from Micron Technology Texas, LLC.
The facility, located on 38 acres, will provide both additional clean room
floor space for wafer fabrication capacity expansion and for relocation of
TriQuint's Texas operation from its current leased space. The purchase price
was $87M, with a close of escrow on August 30, 2000.
The facility is configured as 48,500 square feet of Class 1 Clean
Room, 10,000 square feet of Class 100 Clean Room, and approximately 84,000
square feet of office space. Synthetic lease financing was arranged through
ABN AMRO Bank. TriQuint Semiconductor will immediately begin installing new
processes, wafer fabrication capacity, and personnel. Relocation of equipment
and personnel from the current facility on the Dallas campus of Texas
Instruments will be complete in approximately two years.
First priority for the new facility is the installation of new,
six-inch (150-mm) GaAs wafer fabrication process lines. These new process
lines will replicate the planned six-inch (150-mm) Oregon lines and thus will
provide TriQuint with full redundancy of all high volume manufacturing
processes. The resulting Richardson-based GaAs fabrication capacity will be
larger than the current combined capacities of the Dallas, Texas and
Hillsboro, Oregon facilities.
Other TriQuint Texas-based GaAs operations will be relocated to the
new Richardson facility over the next two years from the current leased
location on the TI campus. Approximately three hundred and fifty current
TriQuint Semiconductor Texas employees will relocate to the Richardson
facility. When fully facilitated and operational, employment at the site
could reach 900. Mr. Tom Cordner, TriQuint VP and TriQuint Semiconductor
Texas GM, will manage the Richardson facility and the transition from the
Dallas leased facility.
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"We are excited about the opportunity to consolidate our Texas
operations into a world class manufacturing facility so close to our present
location. When operational, the facility will give TriQuint a total
manufacturing capacity well in excess of $1 Billion," said Steve Sharp,
TriQuint President and CEO.
Richardson Mayor, Gary Slagel, said in welcoming TriQuint, "TriQuint
has already established itself strongly with a number of the major
telecommunications companies in our Richardson Telecom Corridor, and we see
these business relationships further growing with TriQuint's new production
facilities here in Richardson."
This press release contains both historical information and
forward-looking information. Numerous important factors affect the Company's
operating results and could cause the Company's actual results to differ
materially from the results indicated in this press release or in any other
forward-looking statements made by, or on behalf of, the Company, and there
can be no assurance that future results will meet expectations. Results could
differ materially based on various factors, including the Company's
performance and market conditions. Additional considerations and important
risk factors are described in the Company's 12/31/99 Report on Form 10-K and
its other filings with the Securities and Exchange Commission, copies of
which are available on request from the Company.
TriQuint Semiconductor, Inc. (NASDAQ: TQNT) is a leading worldwide
supplier of a broad range of high performance gallium arsenide (GaAs)
integrated circuits. TriQuint's products span the RF and millimeter wave
frequency ranges and employ analog and mixed signal circuit designs. They are
used in wireless communications, telecommunications, data communications and
aerospace systems. TriQuint offers both standard and customer specific
products as well as foundry services. TriQuint's two operations, in Oregon
and Texas, are both certified to the ISO 9001 international quality standard.
TriQuint is headquartered at 2300 NE Brookwood Parkway, Hillsboro,
OR 97124 and can be reached at 503 615 9000 (fax 503 615 8900). Visit the
TriQuint website at http://www.triquint.com.
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