September 26, 2017
Business Latest News | Poll Questions | Hurricane Maria | Ayla Reynolds | Obamacare

Maine chip plant to stay open following acquisition

The Associated Press

SOUTH PORTLAND, Maine (AP) — National Semiconductor says its plant in Maine will continue operating after Texas Instruments Inc. completes its acquisition of the company.

The two companies announced Monday that Texas Instruments, based in Dallas, will purchase California-based National Semiconductor in a deal valued at $6.5 billion.

In announcing the deal, the companies said Texas Instruments will continue to operate National Semiconductor’s manufacturing plants in South Portland, Scotland and Malaysia.

The South Portland plant opened in 1997 and employs about 550 people.

Stocks of technology companies climbed Tuesday after TI and NatSemi announced the deal; National Semiconductor soared 71 percent.

Did we get something wrong? Please, Let us know, submit a correction.

You may also like