Measurement Specialties Completes Sale of Milpitas Wafer Fab Operations

8/2/2002 - Measurement Specialties completed the sale of the assets of its silicon wafer fab manufacturing operation in Milpitas, California to Silicon Microstructures, Inc. (SMI), a wholly-owned subsidiary of Elmos Semiconductor AG. The wafer fab operation was formerly a part of the IC Sensors Division of Measurement Specialties. The price paid by SMI for the assets was approximately $5.25 million, consisting of approximately $3.37 million in cash and $1.88 million in prepaid credit for products and services, subject to reduction under certain circumstances.

IC Sensors continues to design, manufacture and sell all of its current product lines, including custom wafers and die, pressure sensors, accelerometers and custom MEMS components, and to outsource to SMI the manufacturing of silicon chips used in these products.

Measurement Specialties is a designer and manufacturer of sensors, and sensor-based consumer products. Measurement Specialties produces a wide variety of sensors that use advanced technologies to measure precise ranges of physical characteristics, including pressure, motion, force, displacement, angle, flow, and distance. Measurement Specialties uses multiple advanced technologies, including piezoresistive, application specific integrated circuits (ASICs), micro-electromechanical systems (MEMS), piezopolymers, and strain gages to allow their sensors to operate precisely and cost effectively.

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