STMicroelectronics closes acquisition of silicon carbide wafer specialist Norstel AB
December 02 2019 - 2:00AM
STMicroelectronics closes acquisition of silicon carbide wafer
specialist Norstel AB
PR N° C2930C
STMicroelectronics closes
acquisitionof silicon carbide wafer specialist
Norstel AB
ST strengthens its internal SiC ecosystem, from
materials expertise and process engineering to SiC-based MOSFET and
diodes design and manufacturing
Geneva, Switzerland – December 2, 2019 –
STMicroelectronics (NYSE: STM), a global
semiconductor leader serving customers across the spectrum of
electronics applications, today announced the closing of the full
acquisition of Swedish silicon carbide (SiC) wafer manufacturer
Norstel AB (“Norstel”). ST exercised its option to acquire the
remaining 45% stake, following the initial transaction announced in
February 2019. The total consideration for the acquisition of
Norstel was $137.5 million, funded with available cash.
“At a time of constrained global capacity for
silicon carbide, the full acquisition of Norstel will strengthen
our internal SiC ecosystem: it will boost our flexibility, allow us
to control better the improvement of yield and quality of the
wafers, and support our long-term silicon carbide roadmap and
business,” said Jean-Marc Chery, President and CEO of
STMicroelectronics. “This acquisition comes in addition to wafer
supply agreements signed with third parties, with the overall goal
to secure the required level of wafers to manufacture MOSFET and
diodes for the automotive and industrial customer programs that
will ramp up over the next years.”
Norstel will be fully integrated into ST’s
global R&D and manufacturing operations. It will continue
growing its activities covering both the production of 150mm bare
and epitaxial silicon carbide wafers and R&D on 200mm
production as well as, more broadly, on wide bandgap materials.
About STMicroelectronicsST is a
global semiconductor leader delivering intelligent and
energy-efficient products and solutions that power the electronics
at the heart of everyday life. ST’s products are found everywhere
today, and together with our customers, we are enabling smarter
driving and smarter factories, cities and homes, along with the
next generation of mobile and Internet of Things devices.By getting
more from technology to get more from life, ST stands for
life.augmented.
In 2018, the Company’s net revenues were $9.66
billion. Further information on ST can be found at www.st.com.
For further information, please contact:INVESTOR
RELATIONS:Céline BerthierGroup VP, Investor RelationsTel :
+41.22.929.58.12celine.berthier@st.com
MEDIA RELATIONS :Alexis
Breton
Director, PR & Media OperationsTel : + 33 6 59 16 79
08alexis.breton@st.com
- C2930C - Norstel closing PR FINAL FOR PUBLICATION
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