Renesas Restructures by Closing Manufacturing Company in Germany

6/17/2004 - Renesas Technology Corp. announced it has decided to close a manufacturing subsidiary company, Renesas Semiconductor Europe (Alsdorf) GmbH (RSEA) in Germany. The decision was executed at the board meeting. Renesas Technology plans to stop manufacturing activities at RSEA within 2004 and to transfer microcontroller (MCU), SRAM, and NOR Flash memory to manufacturing sites in Japan.

RSEA will start to discuss terms and conditions with regard to this closure with the Works Council.

Semiconductor market is showing signs of expansion in the long term, and competitive global strategy is required in such market environment. In response to the market demand, Renesas Technology is optimizing its business structure in order to meet the needs of our customers. Business structural reform shall be executed on mid and long term basis and lower manufacturing cost shall be carried out in order to improve efficiency of the line production. The closure of RSEA is a part of Renesas Technology's effort to optimize business structure. Renesas Technology endeavors to improve customer service by building a strong corporate structure.

RSEA Profile
1. Name : Renesas Semiconductor Europe (Alsdorf) GmbH
2. Representative : President Masahiko Nozaki
3. Head Office : Konrad-Zuse-Strasse 1 D-52477 Alsdorf, Germany
4. Established : November, 1989
5. Capital : 106,921,000 Euro
6. Employee : 520 (as of March 2004)
7. Business : Front-end for semiconductor products, MCU, SRAM and NOR Flash Memory

About Renesas Technology Corp.
Renesas Technology Corp. designs and manufactures highly integrated semiconductor system solutions for mobile, automotive and PC/AV markets. Established on April 1, 2003 as a joint venture between Hitachi, Ltd. (TSE:6501, NYSE:HIT) and Mitsubishi Electric Corporation (TSE:6503) and headquartered in Tokyo, Japan, Renesas Technology is one of the largest semiconductor companies in the world and world leading microcontroller supplier globally. Besides microcontrollers, Renesas Technology offers system-on-chip devices, Smart Card ICs, mixed-signal products, flash memories, SRAMs and more.

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