(Boursier.com) — memscap finalized the Fablite program including the sale of its manufacturing plant in North Carolina (USA) and the conclusion of a strategic supply agreement for its optical communications activity.
Sale of North Carolina manufacturing plant
Memscap has entered into a definitive asset sale agreement with Science Corporation, a California-based company developing cutting-edge technologies aimed at breaking down the boundaries between medical devices and consumer electronics. This assignment agreement covers the sale and transfer of certain assets of the Group’s American subsidiary (Memscap Inc.) including:
– All North Carolina teams.
– The lease relating to the manufacturing plant in North Carolina as well as all associated industrial equipment and technologies.
– Bespoke Products manufacturing activities for third parties (“Foundry Business”).
The selling price for these assets is US$3 million.
This asset sale agreement excludes the Variable Optical Attenuator (VOA) products, intellectual property and related marketing activities which remain the property of Memscap.
Strategic supply agreement for VOA products
Along with the finalization of the sale of the North Carolina plant, memscap and Science Corporation have entered into a strategic supply agreement for the manufacture and supply of products required for MEMSCAP’s VOA business. This agreement includes a minimum of 3 years supply of chips and wafers.
Outlook
Following this transaction and the finalization of the Fablite program according to schedule, Memscap’s activity is now focused on:
– the avionics and medical markets addressed by the Group’s Norwegian entity, and
– the optical communications market addressed according to a ‘fabless’ model via the VOA product range.
“This new organization should enable greater operational agility as well as a significant improvement in Memscap’s profitability”, explains Jean Michel Karam, Chairman and CEO of Memscap, who continues: “We are very pleased to have led to the Fablite program well on schedule and to approach the year 2023 with an organization as agile as the one we had planned 3 years ago”.
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