New Mexico to Invest In Management Buyout of Philips Semiconductor Plant.

Knight Ridder/Tribune Business News,  September, 2003  

Tags: management buyout, Philips Semiconductor

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By Diane Velasco, Albuquerque Journal, N.M. Knight Ridder/Tribune Business News

Sep. 24--ALBUQUERQUE, N.M.--The Philips Semiconductor plant scheduled to close Oct. 11 is a step closer to staying open, potentially saving 400 jobs.

On Tuesday, the State Investment Council decided to go forward with a $15 million investment in Mesa Semiconductor Inc., a group of former Philips managers that wants to buy the plant.

Tuesday's decision was based on a verbal assurance from Mesa that the group had succeeded in getting a private investor -- a requirement before the state could ...

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