Seattle, Wash., May 16, 2006 – Colliers International’s Advanced Technology Resource Group (ATREG) announced that it has represented LSI Logic Corporation (LSI) in completing the sale of the company’s Gresham, Ore. 200mm semiconductor manufacturing facility to ON Semiconductor Corp.’s primary operating subsidiary, Semiconductor Components Industries LLC (SCI). The facility sold for approximately $105 million in cash.
“We greatly appreciated Colliers ATREG’s global marketing effort, which helped LSI reach an agreement with a qualified buyer within the time period we established,” said David Sanders, vice president of strategic alliances for LSI Logic.
The initial sale agreement was announced April 6, 2006. Colliers ATREG’s senior vice presidents Stephen Rothrock and Doug Barrett represented LSI Logic Corporation in the transaction. The Seattle-based ATREG team includes senior managers Erin Conger and Eric Larsen and was assisted in the sale by Paul Breuer, senior vice president of industrial / flex properties in Portland, Ore.
“A key driver to putting the sale together was the buyer’s ability to acquire a 500,000 square foot operational facility on 83 acres, including advanced geometry tools and a contract to supply wafers to LSI,” explains Stephen Rothrock. “There are multiple semiconductor facilities on the market, but the superior fab, the experienced LSI workforce along with the supply contract were distinctive characteristics of this offering.”
“The fact that the facility was operational gave the buyer speed to market and as an added bonus kept several hundred jobs in the local area,” adds Doug Barrett. “Despite a difficult market cycle and complex aspects of the assignment, ATREG was able to create a competitive environment with multiple interested parties, from which a qualified purchaser was selected and a mutually advantage transaction was negotiated.”
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A semiconductor sales division of Colliers International, ATREG specializes in helping companies restructure advanced technology assets. Co-directed by Stephen Rothrock and Doug Barrett, ATREG has represented some of the semiconductor industry’s top companies in transactions totalling over U.S.$2 billion. ATREG advises on the sale of operational semiconductor fabs, wafer supply agreements, process and product intellectual property (IP), complete tool lines, and fab infrastructure. For more information, please visit us online at www.atreg.com.