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Renesas Electronics Enters into Purchase and Sale Agreement of Land and Building with Mitsubishi Electric
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 31 January 2012
Release date- 30012012 - TOKYO, Japan - Renesas Electronics Corporation (Renesas, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that Renesas and Mitsubishi Electric Corporation (Mitsubishi Electric; TSE: 6503) have signed an agreement on January 30, 2012 in which: (1) Renesas will obtain a portion of Mitsubishi Electric's land in the Kitaitami operation (Itami, Hyogo); and (2) Mitsubishi Electric will acquire Renesas' manufacturing building (the 'U building') located within the premises of Mitsubishi Electric's Kitaitami operation.
Renesas and Mitsubishi Electric will now enter negotiations to finalize the details and aim to complete the transactions by March 31, 2012.
The mutual purchases will resolve a complicated mix of the two companies' properties, a condition that has existed since April 2003.
[Overview of the land to be acquired by Renesas]
Address 4-1, Mizuhara, Itami, Hyogo
Land Area Approximately 32,013 square meters (Eastern part of the Mitsubishi Electric's Kitaitami operation)
Effective date March 31, 2012 (scheduled)
[Overview of the U building to be acquired by Mitsubishi Electric]
Completion Date September 1992
Structure Steel (Partially steel-reinforced concrete)
Footprint 4,047 square meters
Floor Area 21,161 square meters
Effective date March 31, 2012 (scheduled)
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in 20 countries worldwide. More information can be found at www.renesas.com.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.
[Editorial queries for this story should be sent to newswire@enpublishing.co.uk]
((Comments on this story may be sent to info@enpublishing.co.uk))
(c) 2012 Electronic News Publishing -
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