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SanDisk Shifts Flash Mfr. To Toshiba

1/30/2009 10:22:00 AM Eastern

Milpitas, Calif. — SanDisk will transfer 20 percent of its joint venture flash-manufacturing capacity to partner Toshiba in a cost-cutting move, the companies announced yesterday.

Toshiba will accept equipment lease obligations for the 300mm Fab 3 and Fab 4 facilities The total value to SanDisk is approximately $890 million. SanDisk said, with the lease transfers and cash payment due to be finished by the end of the first quarter of 2009.

The two firms will remain equal partners for the remaining capacity in their joint venture plants, and SanDisk will be able to purchase part of its transferred capacity from Toshiba should the need arise. The companies will also continue joint work on NAND and 3-D memory research and product development.

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