Texas Instruments wants to buy the chip manufacturing equipment from the shuddered Qimonda plant in Eastern Henrico for $172.5 million.
The company, which is perhaps best known for making calculators, wants to use the equipment for producing semiconductors, not memory chips, according to the Wall Street Journal.
The offer from Texas Instruments is subject to rival bids at a court supervised auction to be held Sept. 23.
From the WSJ article:
TI said that acquiring the tools to make 300mm wafers would likely result in the world’s first 300mm analog wafer manufacturing facility, “providing TI a significant manufacturing cost and scale advantage.”
The agreement between Qimonda and TI contains a breakup fee of $4.3 million as well as up to $750,000 in expense reimbursement payable to TI should Qimonda accept a rival offer.
Read the rest of the article here.
According to bankruptcy documents Qimonda has more than $1 billion worth of liabilities.
BizSense was on the scene when more than 50 former Qimonda employees staged a protest at the facility in July to demand unpaid wages. You can watch the video here.