SAN JOSE, Calif. -- Seeking to cut costs amid a major merger, Japan's Renesas Technology Corp. has sold its IC-equipment business to Hitachi High-Technologies Corp.
Renesas (Tokyo) announced a basic agreement for the transfer of its semiconductor manufacturing equipment subsidiary--Renesas Eastern Japan Semiconductor Inc.-- to Hitachi High-Technologies (Tokyo).
Specifically, the transfer will see Renesas Eastern Japan Semiconductor as the absorbed company, with Hitachi High-Tech Instruments as the surviving company. The deal is expected to be completed by next spring.
Renesas Eastern Japan Semiconductor is currently in charge of the development and manufacture of semiconductor manufacturing equipment. Hitachi High-Technologies is responsible for global sales of
these products.
Formed in 2002, Renesas Eastern Japan Semiconductor makes mostly backend equipment, such as wafer sorters, bonders, and other machines. It had sales of 14.6 billion yen ($161.3 million) in fiscal 2006, 18.0 billion yen ($198.9 million) in fiscal 2007 and 6.0 billion yen ($66.3 million) in fiscal 2008.
The company has 2,380 employess, but only 115 are affected by the transfer, according to a statement.
As reported, after several delays, Japan's NEC Electronics Corp. and Renesas said they have agreed in principal to merge.
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