SunPower Announces Initial Public Offering SPWR Message Board

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Gold/Mining/Energy : SunPower Announces Initial Public Offering SPWR

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To: Jim Oravetz who wrote (26)	12/22/2006 8:16:01 AM
From: Jim Oravetz	Read Replies (1) of 196

Cypress Plans $50M Solar Fab in India By Colleen Taylor Electronic News, 12/21/2006 San Jose-based semiconductor design and manufacturing company Cypress Semiconductor has plans to build a solar fab center in southern India at an investment of up to $50 million, according to an article today in The Hindu Business Line. The fab would likely be inhabited by SunPower Corp., the solar cell maker purchased by Cypress in 2002. In June, SunPower priced the public offering of 7 million shares of its class A common stock at $29.50 per share in an effort to raise some $206.5 million for Cypress. However, the buyout deal was nixed in October, and SunPower remains a majority-owned subsidiary of Cypress. Cypress has been in talks regarding the new fab with the government in Andhra Pradesh, India, according to the paper. The manufacturing facility would reportedly be used to produce solar cells and wafers. The company already has similar centers at Bangalore and Hyderabad, where it reportedly plans to expand its current operations, as well. Cypress plans to double the number of design engineers in Bangalore from 300 to 600 in the coming years, and double its headcount at the Hyderabad center from 20 to 40, according to the report. India accounts for more than 50 percent of the company's chip design work

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