MEMSCAP signs sale agreement for Bernin site to Soitec
Except for an exceptional consolidated accounting loss of 4.4 million euros, that is the difference between the net sale amount and the net book value of the site, and which will be recorded in thebooks for the 2 nd quarter results, the sale impact on the Group annual net result would be animprovement of over 1 million euros per year.
The completion of the sale with signature of the official sale act should take place shortly right after the realisation of the suspensive conditions.«
"The sale of our Bernin manufacturing site, where production had been stopped in 2003, means the end of MEMSCAP financial debts, and represents a major turning point in our Group development and growth», declares Jean Michel Karam, Chief Executive Officer of MEMSCAP. « We are also satisfied that this sale be made to SOITEC, our neighbor, as this contributes to the industrial development of the Grenoble region."
"We are delighted to acquire the manufacturing site of MEMSCAP within the frame of our growth projects, because this site is of an exceptional quality, and enables us to be immediately operational" comments André-Jacques Auberton-Hervé, Chief Executive Officer of SOITEC.
