Manchester, NH, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”), a global leader in sensing and power semiconductor technology, today announced that it has finalized the sale of its manufacturing facility in Thailand (“AMTC”) to Innolight Technology (Thailand) Co., Ltd. The AMTC purchase price was approximately $27 million USD before fees and expenses. This sale is an important milestone in the execution of Allegro’s manufacturing transformation to streamline back-end operations and enhance gross margin.
Allegro previously announced its facility consolidation plans as part of a multi-year strategic transformation to optimize the company’s manufacturing footprint and reduce fixed costs. In 2020, the company shared that it had successfully transferred production from AMTC into its Manila, Philippines facility (“AMPI”), one quarter earlier than initially planned.
“This transaction takes us one step further toward our long-term goal of a fabless, asset-light operating model,” said Thomas Teebagy, Senior VP of Operations and Quality. “By consolidating integrated circuit assembly and testing into a single site, we’re streamlining manufacturing flows and lowering our back-end costs, while simultaneously reducing our energy consumption and minimizing waste—important steps toward our vision of moving the world toward a safer, more sustainable future.”
Global advisory firm ATREG, Inc., based in Seattle, Washington advised Allegro MicroSystems on this transaction.
About Allegro MicroSystems
Allegro MicroSystems is a leading global designer, developer, fabless manufacturer and marketer of sensor integrated circuits (“ICs”) and application-specific analog power ICs enabling emerging technologies in the automotive and industrial markets. Allegro’s diverse product portfolio provides efficient and reliable solutions for the electrification of vehicles, automotive ADAS safety features, automation for Industry 4.0 and power saving technologies for data centers and green energy applications.
About ATREG, Inc.
Headquartered in Seattle, USA, ATREG, Inc. specializes in helping global companies divest and acquire infrastructure-rich advanced technology manufacturing assets, including front-end and back-end semiconductor fabs, cleanroom facilities, and technology campuses in North America, Europe, and Asia.
Forward Looking Statements
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