FASL LLC, the joint venture between AMD and Fujitsu dedicated to the production of flash memory, was officially incorporated on Monday. The new venture will sell flash products under the "Spansion" brand name.
FASL was formed at the end of March by the two companies. AMD will own 60 percent of the new company, and FASLs results will be consolidated in AMDs financial statements. FASLs official headquarters will be in Sunnyvale, the home of AMD, with a sister office in Tokyo.
"We plan to make Spansion Flash memory the pre-eminent brand in the memory market," said Dr. Bertrand Cambou, president and chief executive of FASL, in a statement. "The Spansion brand symbolizes new horizons and possibilities for our customers, helping them to create products with greater value and differentiation. We expect that the combination of our focus on customers, next-generation technology, process design and integrated manufacturing will help us emerge as the global Flash memory leader."
The merged company will be worth $3 billion, based upon existing assets, and employ about 7,000 workers.