8-K: Current report filing
Published on July 18, 2002
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 17, 2002
MICROCHIP TECHNOLOGY INCORPORATED
(Exact name of Registrant as specified in its charter)
Delaware 0-21184 86-062904
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation) Identification Number)
2355 West Chandler Boulevard, Chandler, Arizona 85224-6199
(Address of principal executive offices)
(480) 792-7200
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS.
On July 17, 2002, we signed an agreement to acquire a semiconductor
manufacturing facility in Gresham, Oregon from Fujitsu Microelectronics, Inc.,
referred to as FMI, for $183.5 million in cash. The assets we would acquire upon
closing include a 196-acre campus, buildings totaling approximately 826,500
square feet (including approximately 200,000 square feet of clean room space)
and manufacturing equipment. We intend to use the facility to manufacture
semiconductors. FMI manufactured semiconductors at the facility. We negotiated
the purchase price at arm's length and there is no material relationship between
FMI and us or any of our affiliates, or our officers or directors or the
associates of any such officer or director. We will pay the purchase price from
our existing cash and cash equivalent balances.
Closing of the transaction is subject to several closing conditions,
including the qualification of the facility under the state of Oregon's
Strategic Investment Program, a program that would provide a partial tax
exemption for the facility for a limited period of time. Closing of the
transaction is scheduled to occur on October 31, 2002, however, FMI has the
option to accelerate closing to the end of August 2002, upon completion of all
closing conditions.
A copy of the Purchase and Sale Agreement is filed as Exhibit 2.1 to this
report on Form 8-K
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS.
2.1 Purchase and Sale Agreement, dated as of July 17, 2002
between Microchip Technology Incorporated and Fujitsu
Microelectronics, Inc.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 18, 2002 Microchip Technology Incorporated
By: /s/ Gordon W. Parnell
------------------------------------
Gordon W. Parnell
Vice President, Chief Financial
Officer (Principal Accounting and
Financial Officer)
INDEX TO EXHIBITS FILED WITH
THE CURRENT REPORT ON FORM 8-K DATED JULY 17, 2002
Exhibit 2.1 Purchase and Sale Agreement, dated as of July 17, 2002
between Microchip Technology Incorporated and Fujitsu
Microelectronics, Inc.