Littelfuse to Acquire 200mm Wafer Fab Located in Dortmund, Germany
28 Giugno 2023 - 12:00PM
Business Wire
Enhances internal power semiconductor
capabilities to support long-term growth trajectory
Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial
technology manufacturing company empowering a sustainable,
connected, and safer world, today announced it has entered into a
definitive purchase agreement to acquire a 200mm wafer fab located
in Dortmund, Germany (“Dortmund fab”) from Elmos Semiconductor SE
(FSE: ELG). Key transaction benefits include:
- Expands business opportunities in high-growth industrial end
markets like renewables, energy storage, automation, motor drives,
power supplies, and e-Mobility off-board charging
infrastructure
- Provides a highly skilled technology team with extensive 200mm
manufacturing and development experience
- Defined multi-year capacity sharing arrangement with Elmos
Semiconductor SE to allow Littelfuse to ramp its technologies over
time; initial term lasting through 2029
“The acquisition of the 200mm Dortmund wafer fab is an important
element in our long-term growth strategy for power semiconductors,”
said Chad Marak, Senior Vice President and General Manager,
Littelfuse Semiconductor Business. “Key to our sustained success is
expanding our portfolio of technologies and growing internal
capabilities to enable us to meet the increasing demands of our
customers in high-growth power conversion applications. The
Dortmund fab complements our current footprint, adding a highly
experienced team and an efficient high-quality wafer processing
operation. We are excited about the future prospects of our
combined teams and capabilities, which I am confident will continue
to position us for long-term profitable growth.”
The acquisition of the Dortmund fab is expected to close early
in fiscal year 2025. The total purchase price for the fab is
approximately 93 million Euro, of which approximately 37 million
Euro will be paid after regulatory approvals, and approximately 56
million Euro will be paid at closing. The transaction is not
expected to have a material impact on the company’s fiscal year
2023 or 2024 financial results.
About Littelfuse
Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial
technology manufacturing company empowering a sustainable,
connected, and safer world. Across more than 20 countries, and with
approximately 18,000 global associates, we partner with customers
to design and deliver innovative, reliable solutions. Serving over
100,000 end customers, our products are found in a variety of
industrial, transportation and electronics end markets –
everywhere, every day. Learn more at Littelfuse.com.
“Safe Harbor” Statement under the
Private Securities Litigation Reform Act of 1995
The statements in this press release that are not historical
facts are intended to constitute "forward-looking statements"
entitled to the safe-harbor provisions of the Private Securities
Litigation Reform Act. Such statements are based on Littelfuse,
Inc.’s (“Littelfuse” or the “Company”) current expectations and are
subject to a number of factors and uncertainties, which could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties, include,
but are not limited to, risks and uncertainties relating to general
economic conditions; the severity and duration of the COVID-19
pandemic and the measures taken in response thereto and the effects
of those items on the company’s business; product demand and market
acceptance; the impact of competitive products and pricing; product
quality problems or product recalls; capacity and supply
difficulties or constraints; coal mining exposures reserves;
cybersecurity matters; failure of an indemnification for
environmental liability; exchange rate fluctuations; commodity and
other raw material price fluctuations; the effect of Littelfuse's
accounting policies; labor disputes; restructuring costs in excess
of expectations; pension plan asset returns less than assumed;
integration of acquisitions; uncertainties related to political or
regulatory changes; and other risks which may be detailed in the
company's Securities and Exchange Commission filings. Should one or
more of these risks or uncertainties materialize or should the
underlying assumptions prove incorrect, actual results and outcomes
may differ materially from those indicated or implied in the
forward-looking statements. This release should be read in
conjunction with information provided in the financial statements
appearing in the company's Annual Report on Form 10-K for the year
ended December 31, 2022.
Further discussion of the risk factors of the company can be
found under the caption "Risk Factors" in the company's Annual
Report on Form 10-K for the year ended December 31, 2022, and in
other filings and submissions with the SEC, each of which are
available free of charge on the company’s investor relations
website at investor.littelfuse.com and on the SEC’s website at
www.sec.gov. These forward-looking statements are made as of the
date hereof. The company does not undertake any obligation to
update, amend or clarify these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
the availability of new information.
LFUS-A
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version on businesswire.com: https://www.businesswire.com/news/home/20230628289397/en/
Littelfuse, Inc. Investor Contact: Trisha Tuntland Head
of Investor Relations (773) 628-2163
Media Contact: Emily Davis Head of Corporate
Communications (224) 453-8259 media@littelfuse.com
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