Fairchild Buys Samsung Division
Apr. 15, 1999
SOUTH PORTLAND, Maine (AP) _ Fairchild Semiconductor has completed the $450 million purchase of the Power Device Division of Samsung Electronics Co., officials said.
Kirk Pond, Fairchild's president and chief executive, said Wednesday the purchase adds several hundred products to his company's portfolio.
The Samsung division makes a variety of semiconductors, including those used in televisions, fluorescent lights and power car seats.
``Samsung's Power Device business is a strategic purchase for Fairchild,'' Pond said. ``It provides Fairchild with geographic balance, boosting our presence in Korea and the Asia Pacific region.''
Most of the Power Device Division's 1,200 workers are in Beuchon, South Korea, where production lines are located for such non-memory parts as transistors, power devices and linear integrated circuits.
The acquisition will boost Fairchild's annual revenue to more than $1 billion, officials said. That would put it in third place for revenues in Maine, after Hannaford Bros. and Unum insurance company.
Fairchild has 6,300 workers at its headquarters in South Portland; at additional manufacturing plants in California, Utah and Malaysia; and at regional sales offices around the world.
The company manufactures low-voltage semiconductors, or computer chips, used in personal computers, industrial equipment, telecommunications equipment, consumer goods and automobiles. Samsung's Power Device Division manufactures high-voltage chips for such items as televisions and fluorescent lights.