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STMicroelectronics announces product organization realignment

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STMicroelectronics announced plans to reorganize its product segments into three main areas.
STMicroelectronics announced plans to reorganize its product segments into three main areas. Under the new structure, which divides the Company’s products into Application Specific Groups, a Flash Memory Group and the Industrial and Multisegment Sector, ST’s organizations are aligned to meet the requirements of the market, while preparing the Company for strategic repositioning in Flash memory. The reorganization takes effect on January 1, 2007. “We are progressing in our efforts to pursue industry consolidation and financial deconsolidation in Flash memory devices,” said Carlo Bozotti, President and CEO of ST. “This significant move, in combination with the reorganization of Application Specific Groups and creation of the Industrial & Multisegment Sector, enable ST to better address opportunities in the industry’s fastest growing markets.” ST is establishing a stand-alone Flash Memories Group (FMG), which incorporates all the Flash memory operations, including Technology R&D, all product related activities, front-end and back-end manufacturing, marketing and sales worldwide. Furthermore, in order to provide a more synergistic contribution to the Company’s product requirement, ST is adding to the former MPA business its non-Flash memory products – formerly under MPG – and its Micro-Electro-Mechanical Systems (MEMS) activity, to form a new sector, called Industrial & Multisegment Sector (IMS). Within IMS, a new Group, the Microcontrollers, Memories & Smartcards Group (MMS), is created. Finally, keeping the same overall perimeter, ST’s Application Specific Groups (ASG) will now be comprised of the newly created Mobile, Multimedia & Communications Group (MMC) and the Home Entertainment & Displays Group (HED) as well as the existing Automotive Product Group (APG) and Computer Peripherals Group (CPG).
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