NEW YORK, AUG. 15 -- General Electric Co. has agreed to sell to Harris Corp., its $550
million-a-year Solid State division, which makes chips for automotive,
industrial and military markets, the companies said today. The price was
not disclosed.
The Solid State division, which includes semiconductor operations
acquired in GE's purchase of RCA, employs about 10,000, GE said. It has
headquarters in Somerville, N.J., and plants in Findlay, Ohio;
Mountaintop, Pa., and Cupertino, Calif.
Not included in the deal is GE's Microelectronics Center in Research
Triangle Park, North Carolina, which also makes chips for military uses
but only for use in GE's own products.
GE, based in Fairfield, Conn., said the chip unit did not fit with
Share this articleShareits strategy of focusing on businesses where it has global leadership.
Bruce Bunch, a GE spokesman, said the unit was profitable but said he
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could not be more specific.
Harris, which has headquarters in Melbourne, Fla., said the purchase
would "complement and reinforce our own successful semiconductor
business." It said the deal unites two of the industry's leading
manufacturers of an advanced kind of chip known as CMOS, for
complementary metal-oxide semiconductor.
Harris' own Semiconductor Sector employs about 4,000 people
worldwide and has annual sales of about $300 million.
The deal is subject to the conclusion of a definitive agreement and
corporate and government reviews. It is expected to be completed by the
end of the year.
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