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Endicott Interconnect Completes Purchase of IBM Facility, Operations
November 6, 2002 |Estimated reading time: 1 minute
Endicott, N.Y. -- Endicott Interconnect Technologies Inc. has completed the acquisition of IBM's Endicott facility and the Microelectronic manufacturing operations located there.
Endicott purchased the location and manufacturing operation for $65 million. The company will receive the backing of New York state through tax incentives and plans to retain the jobs of about 2,000 highly skilled employees. In addition, IBM has committed to lease back 1.4 million sq. ft of the campus for 10 years to house approximately 2,000 workers involved in the ongoing IBM operations at the site. The remaining unutilized real estate, which includes office and lab space will be made available for lease.
Investment in the Endicott facility comes at a time when many companies are struggling with market conditions. The Endicott operations have provided hardware and service solutions to companies outside of IBM since 1993. The new company will continue to focus on providing advanced technical solutions to its customers in the high-end information technology market, where a limited supplier base exists, while expanding into new areas such as military, automotive and medical applications. The new owners plan to make investments to build the company, introduce a new entrepreneurial spirit and take advantage of a reduced cost structure to provide world-class solutions to the industry.
The manufacturing operation, which commences business today as Endicott Interconnect Technologies Inc., is a world-class supplier of organic semiconductor chip packaging, printed circuit boards and assembly service. With more than 40 years of experience in providing the microelectronics hardware found in IBM systems, the company brings to market a unique mix of leading edge technology and technical know-how to provide customers with a time-to-market advantage and competitive differentiation.
Endicott Interconnect Technologies' thermal/electrical/mechanical modeling and product design organizations can evaluate electronic design concepts and provide both electrical performance and reliability evaluations. This, coupled with expertise in material science, failure analysis and product assurance testing provides the foundation to ensure robust manufacturing operations and highly reliable products.
Under the terms of the agreement, Endicott Interconnect Technologies will continue to be a major supplier of packaging to IBM's Semiconductor Foundry and Printed Circuit Boards/Assemblies to IBM's Server Group. The company has full access to the intellectual property and know-how associated with the operations at the site.