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Technology Stocks : LSI Corporation
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To: E_K_S who wrote (25768)9/13/2005 4:13:04 PM
From: sixty2nds   of 25814
 
16:01 LSI LSI Logic Adopts Fabless Manufacturing Strategy (10.30 +0.29)

LSI Logic today announced plans to adopt a fabless manufacturing model to better serve its global customer base, reduce production costs and adopt leading-edge process technologies. The company's new manufacturing strategy foresees the expansion of its working relationships with major foundry partners and the adoption of a roadmap leading to the production of advanced semiconductors utilizing 65- nanometer and below process technology on 300-mm or 12-inch wafers. LSI Logic intends to sell its world-class, eight-inch Gresham, Oregon manufacturing facility. Throughout this transition from a fab-lite to a fabless model, LSI Logic will continue to meet the production needs of its worldwide customer base through the use of its Gresham factory and its foundry suppliers. The company estimates it will record restructuring and other charges of approximately $75 million to $110 million in the third quarter of 2005 for fixed asset write-downs, severance and other expenses associated with the planned sale of the Gresham manufacturing facility. The company anticipates incurring related restructuring charges of less than $3 million per quarter in the fourth quarter of 2005 and the first two quarters of 2006.
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