Rosoboronexport general director Sergey Chemezov. The holding's newly acquired semiconductor plant in France may contribute to the development of electronics in VAZ cars.
Photo: Alexey Kudenko
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Rosoboronexport Buys Semiconductor Plant in France
The American IBM and German Infineon have sold the Altis Semiconductor plant outside Paris to an unknown Russian holding company called Global Information Services. On the market, they anonymously point to Rosoboronexport, the Russian state arms exporter, which does not deny its involvement in the deal, saying that it “does not comment on uncompleted deals.” The estimated value of the deal is ˆ300-500 million. It is Rosoboronexport's first foreign acquisition.
The deal was announced by the sellers on August 30. They names the Swiss company Advanced Electronic Systems as the buyer of the plant. Advanced Electronic Systems is owned by GIS. The deal expected to be completed before the end of the year, after it has been approved by regulators. The deal includes key production technology and the buyer agrees to maintain the level of production and to produce goods for the European Union as well as Russia. The value of the deal was not disclosed. IBM and Infineon confirmed the deal, but declined to speak about the purchaser.
Altis Semiconductor is owned equally by IBM by Infineon. About 2000 people work at its 55-ha. plant 40 km. south of Paris. Its products go to Europe (40%), North America (40%) and Asia. Its proceeds in 2004 were ˆ525 million. IK Finam estimates that its 2006 proceeds were &eur;650-700 million.
www.kommersant.com
All the Article in Russian as of Sep. 03, 2007
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