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Article: Mitsubishi Electric to Obtain Ownership of Renesas Technology's Kumamoto Factory.
- Article from:
- Business Wire
- Article date:
- January 31, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO -- Mitsubishi Electric Corporation (President and CEO: Setsuhiro Shimomura; hereafter "Mitsubishi Electric") and Renesas Technology Corp. (Chairman and CEO: Satoru Ito; hereafter "Renesas") announced today that they have reached an agreement for Mitsubishi Electric to acquire buildings and its manufacturing facilities of Renesas' Kumamoto factory.
In April 2003, Mitsubishi Electric transferred its system LSI and system memory businesses to Renesas, which was established as a joint venture between Mitsubishi Electric and Hitachi Ltd. Mitsubishi Electric currently concentrates its resources on power and high-frequency optical devices, which prove effective in ...