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| Type | Public (Pink Sheets: SPSNQ) |
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| Founded | 2003 |
| Headquarters | Sunnyvale, California, USA |
| Industry | Semiconductors |
| Products | Flash memory |
| Employees | 5,600 |
| Website | www.spansion.com |
Spansion Inc. is a joint-venture between AMD and Fujitsu that trades on the Pink Sheets under the symbol SPSNQ. Spansion is the largest company exclusively focused on Flash memory products. Spansion has 5,600 employees and is headquartered in Sunnyvale, California.
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Establishment
Spansion was founded in 1993 as a joint venture between AMD and Japan's Fujitsu Ltd. AMD took control of the company in 2003 and spun it off as an independent maker of flash memory chips in December 2005.
Financial
Since the spinoff, the company has not made a profit. In the most recent period for which it has disclosed complete financial data, first quarter 2009, the company posted a net loss of $122 million.[1][2] Subsequently, the company provided a second quarter business update showing positive signs of recovery. Total operating expenses dropped more than 20% compared to the first quarter of 2009. Spansion also ended the second quarter of 2009 with a cash balance of $220 million, and increase of $125 million compared to the first quarter.[3]
Executive pay controversy
On February 23, 2009 the company laid off 3,000 employees without severance pay, while CEO John Kispert was given a bonus of $1.8 million[4][dead link][5] and managers received an 11% increase in pay (negating the effect of an earlier 10% salary cut).[6][dead link] The company filed for Chapter 11 bankruptcy on March 1, 2009 amidst an outcry by laid-off workers.[7]
Manufacturing
Japan
Spansion launched SP1, its first production 300mm factory, in Aizu-Wakamatsu, Japan. Along with SP1 an additional 200mm factory, called JV3, (Joint Venture-left over from the Fujitsu merger) is also in Aizu-Wakamatsu.
United States
- Austin, Texas - one of Spansion’s 200mm manufacturing facilities is Fab 25.
References
- ^ Spansion updates its financial condition, Austin American-Statesman, March 23, 2009
- ^ Spansion finds bankruptcy helps focus its plans, Austin American-Statesman, June 8, 2009
- ^ Spansion moves to emerge from Chapter 11, EE Times, July 28, 2009
- ^ Spansion cuts hundreds of jobs in Austin - Workers are let go without severance pay, Austin American-Statesman, February 24, 2009
- ^ Spansion restores executives to full pay, Austin American-Statesman, February 24, 2009
- ^ Laid-off Spansion employees outraged over execs' pay increases, San Jose Mercury News, February 26, 2009
- ^ Anger grows as Spansion files for bankruptcy, EE Times, March 1, 2009
External links
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