Conexant to Sell Unit; Newport Beach Jobs Lost
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Conexant Systems Inc. said Wednesday it has agreed to sell its photomask operations to Photronics Inc. in Florida.
Photomask is a product used in manufacturing high-performance semiconductors,
Financial terms weren’t disclosed, but about 30 of the 40 photomask jobs in Newport Beach will be eliminated. The remaining employees will be offered positions with Conexant or Photronics, Conexant spokeswoman Gwen Carlson said.
Photronics, based in Jupiter, Fla., has also agreed to become Conexant’s primary supplier of these high-precision quartz plates.
Conexant, which provides semiconductor products, said the agreements will allow it to focus on the personal networking and Internet-infrastructure markets.
Conexant’s stock was off 29 cents to $11.77, while Photronics shares dipped 75 cents to $22.75. Both stocks trade on Nasdaq.
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