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Thomas Chongruk
Obviously it couldn't have been 100X slower. On a tangent from installation, ...
resistion
That's a large reason it had to go fabless.
AMD to sell Austin campus
Dylan McGrath
11/27/2012 6:19 PM EST
SAN FRANCISCO—Advanced Micro Devices Inc. (AMD) wants to sell its campus in Austin, Texas, and lease the facility back from a commercial real estate investor in an effort to raise cash, a company spokesperson said Tuesday (Nov. 27).
In an email exchange, the spokesperson said AMD intends to take advantage of "favorable economic conditions in the Austin Southwest office submarket" by offering the company's "Lone Star" campus for sale to reputable commercial investors, contingent on a multi-year leaseback deal.
"AMD’s management team believes this is a good business decision that is supportive of the company’s long term corporate strategy by enabling AMD to generate capital to apply to its business operations, as opposed to having it locked in real estate," the spokesman said.
More than 2,000 AMD employees work at the Austin campus. It is the company's single largest site in terms of number of employees.
The spokesman said AMD expects the 58-acre campus site to fetch $150 million to $200 million.
With a multi-year leaseback deal, AMD plans to remain a long-term tenant at the campus, the spokesman said. The action is expected to have no impact on employees or operations, the spokesman said.
AMD last month announced it would cut its workforce by about 15 percent after reporting a net loss of $157 million on sales of $1.27 billion.
Related stories:
In an email exchange, the spokesperson said AMD intends to take advantage of "favorable economic conditions in the Austin Southwest office submarket" by offering the company's "Lone Star" campus for sale to reputable commercial investors, contingent on a multi-year leaseback deal.
"AMD’s management team believes this is a good business decision that is supportive of the company’s long term corporate strategy by enabling AMD to generate capital to apply to its business operations, as opposed to having it locked in real estate," the spokesman said.
More than 2,000 AMD employees work at the Austin campus. It is the company's single largest site in terms of number of employees.
The spokesman said AMD expects the 58-acre campus site to fetch $150 million to $200 million.
With a multi-year leaseback deal, AMD plans to remain a long-term tenant at the campus, the spokesman said. The action is expected to have no impact on employees or operations, the spokesman said.
AMD last month announced it would cut its workforce by about 15 percent after reporting a net loss of $157 million on sales of $1.27 billion.
Related stories:
- AMD eyes ARM IP, realignment
- Silicon Valley Nation: AMD bids farewell to PC
- AMD announces ARM server processors
- Qualcomm overtakes Intel in market capitalization
- Dennis Carter: Behind the Intel Inside campaign
- AMD says it's not for sale
- ARM tips 64-bit 'big-little' processors, partners
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US Made
11/27/2012 6:40 PM EST
here we go. another american company is ready sell their assets to China, Taiwan, or Korea.
cheap, clean, perhaps free electricity and water from state....
I bet you ETeam got bonus for this great idea...
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semisane
11/28/2012 5:04 PM EST
The carpetbaggers of the management team are selling off anything they are not ruining. Great job guys (and gal)!
This company is going to implode.
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Thomas Chongruk
11/29/2012 1:33 AM EST
Unfortunately a step toward future downsizing. Hopefully things will look upward with the next tenant.
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marcos83
11/29/2012 10:22 AM EST
I use to work for a large litho vendor installing machines worldwide. I was always surprised just how slow AMD worked compared to it's competition in Taiwan and Korea. Like 100X slower. It brings me no surprise that AMD are struggling in this saturated industry.
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resistion
11/30/2012 9:04 AM EST
That's a large reason it had to go fabless.
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Thomas Chongruk
12/3/2012 5:26 PM EST
Obviously it couldn't have been 100X slower. On a tangent from installation, what about production? What there a noticeable difference for the yield rate for manufacturing?
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