News for all VTSS followers:
BW0052 JUL 12,1996 8:45 PACIFIC 11:45 EASTERN
( BW)(VITESSE-SEMICONDUCTOR)(VTSS) Vitesse Semiconductor to build
gallium arsenide wafer fab in Colorado Springs
Business Editors & High-Tech Writers
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--July 12, 1996--Vitesse
Semiconductor Corp. (NASDAQ:VTSS) Friday announced that it plans to
construct a gallium arsenide (GaAs) integrated-circuit manufacturing
facility in Colorado Springs.
The Colorado Springs facility is being designed as a second
manufacturing facility to meet the increased customer demands for
Vitesse products. The 70,000-square-foot facility will be designed
to support a six-inch wafer manufacturing and test expansion project
in two phases.
The first phase, which will include a product-design center and
capabilities for process R&D activities, is scheduled to be
completed in the second half of calendar 1998. When fully staffed,
the first phase will employ about 100 people in the manufacturing
operation plus an additional 40 engineering positions.
Vitesse presently expects to invest approximately $75 million in
facilities and equipment for phase one, which it currently intends
to fund out of cash and operating cash flow.
The second phase is intended for additional capacity if and when
required.
Vitesse President and Chief Executive Officer Lou Tomasetta
said: ``We have spent considerable effort to select a site for our
six-inch wafer fab facility and have chosen Colorado Springs because
of its excellent infrastructure support: a community college system
that will help us hire and train the skilled technicians needed to
run a state-of-the-art integrated-circuit facility, the availability
of an experienced technical work force, the excellent support and
assistance we received from the Greater Colorado Springs Economic
Development Corp., the City of Colorado Springs Rapid Response Team
and the entire governmental infrastructure of the state of Colorado.
``In addition, the excellent quality of life, reasonable housing
costs and nonstop airline service to all major U.S. destinations
make Colorado Springs an attractive location for recruiting
experienced professionals from across the country.
``The assistance and encouragement we received from the existing
high-technology companies in Colorado Springs convinced us that
Colorado Springs would welcome us to the community. We look forward
to being good neighbors and adding to the economic growth of the
community.''
Vitesse Semiconductor is a leading supplier of high-performance
integrated-circuit solutions. The company's products, consisting of
custom, semicustom and standard products, are used in a wide variety
of applications, including telecommunications, data communications
and automated test equipment and instrumentation. Vitesse has
headquarters in Camarillo, Calif.
--30--DON/la* LES/la
CONTACT: Vitesse Semiconductor Corp.
Judy Calvin, 805/388-3700
or
Ogilvy Adams & Rinehart
Jerry Kalman, 310/996-0545
KEYWORD: CALIFORNIA COLORADO
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
BUILDING/CONSTRUCTION TELECOMMUNICATIONS
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
BW URL: businesswire.com
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