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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61004)	2/27/2002 2:22:03 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Conexant, Carlyle to Form Chip Venture -- Los Angeles Times, 2/26/2002 e-insite.net Newport Beach chip maker Conexant Systems Inc. and buyout firm Carlyle Group Inc. plan to form a new company to manufacture thin, semiconductor slices called wafers. Carlyle will pay Conexant $ 20 million in cash and will invest $ 30 million in the new venture. In exchange, Conexant will contribute the manufacturing equipment in its Newport Beach wafer fabrication facility. Carlyle will own 55% of the new company; Conexant will own 45%. Shu Li, Conexant's senior vice president of quality, platform technology and supply chain management, will become chief executive of the wafer company. Conexant shares rose 58 cents, or 6.2%, to $ 9.98.