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MUNICH, Germany-U.S. chip manufacturer Amtel Corp. plans to take over Siemens AG’s North Tyneside semiconductor factory in northeastern England, with plans to supply Siemens with specific semiconductor products and help secure future availability of flash memory chips.
Siemens opened the factory in 1995, but closed the production facility at the end of 1998, due to overcapacity in the semiconductor business. Amtel said it sees the plant as an opportunity to quickly build up its own production capacity and increase its market share in Europe.
Financial terms if the acquisition were not released.
