MILPITAS, Calif., Oct. 2 /PRNewswire/ -- (OTC: SIPX.PK), Sipex
Corporation (Sipex) announced that it has closed its Milpitas wafer
fabrication operations. The products that were formerly manufactured in the
Milpitas Fab will now be manufactured in China and Taiwan.
"The sacrifices made by the people due to this strategic manufacturing
transition are greatly appreciated by me and by our stockholders," said
Ralph Schmitt, CEO of Sipex. "This fabless transition is critical to making
Sipex profitable. We are pleased with the progress of transferring our
products and process technologies to our outsourced partners. The efforts
of the Sipex team have been outstanding."
"As we have previously disclosed, the financial impact of this
transition will still take multiple quarters as we sell through our higher
costed inventory and WIP," explained Ray Wallin, CFO of Sipex. "We have
taken a one time charge for closing the facility."
About Sipex Corporation
Sipex Corporation is an analog semiconductor company that addresses
standard linear and application specific standard products (ASSP) for
customer systems that are primarily targeted at the consumer, networking
and industrial markets. The products are categorized into three synergistic
areas of power management, interface and optical storage. Sipex is a global
company with operations in Asia, Europe and North America. It is the
mission of the Company to create innovative analog products that enable
customers to produce differentiated products.
Safe Harbor Statement
Certain statements in this communication regarding the closing of the
Milpitas Fab, including the success of Sipex's strategy to make the Company
profitable and any other statements regarding Sipex's future expectations,
beliefs, goals or prospects constitute forward-looking statements. Any
statements that are not statements of historical fact should also be
considered forward- looking statements. Sipex assumes no obligation to
update the information in this communication, except as otherwise required
by law. Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof.
Ralph Schmitt, CEO and Member of the Board of Directors
Phone: 408-934-7500
Fax: 408-935-7678
Email: RSchmitt@sipex.com
SOURCE Sipex Corporation
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Related links:
http://www.sipex.com
http://www.prnewswire.com/comp/111683.html/
CONTACT:
Ralph Schmitt, CEO and Member of the Board of
Directors of Sipex Corporation, +1-408-934-7500, or fax,
+1-408-935-7678, or RSchmitt@sipex.com
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