Renesas moves to transfer Tsuruoka factory to TDK
Renesas Electronics has reached a definitive agreement with TDK on the transfer of Renesas Semiconductor Manufacturing’s Tsuruoka factory to TDK. The two companies signed a basic agreement on the transfer in November 2015.
Renesas had originally planned to close the Tsuruoka factory, but TDK expressed an interest in acquiring the factory for its own electronic components manufacturing.
Renesas Electronics, Renesas Semiconductor Manufacturing Co, TDK Corporation and TDK Shonai Corporation signed a definitive agreement on 28 April 2016 regarding the transfer.
Based on the definitive agreement, the parties will work cohesively to complete the transaction by the target date of March 2017.
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