Gov. Peter Shumlin issued the following statement today on the planned sale of IBM Vermont facilities to GlobalFoundries: IBM announced this morning that it plans to sell its semiconductor production business, including its facilities in Vermont, to GlobalFoundries, a company with a strong track record of performance in semiconductor manufacturing. GlobalFoundries plans to maintain the workforce and continue operations in Vermont, good news for the talented Vermonters employed by the plant and for our whole state. IBM has been a part of the Vermont fabric for decades, driving economic development and innovation. But we have felt the uncertainty regarding IBMs future in Vermont for the last several years, as its business model has changed. That is why it is very good news for Vermonts long-term future that IBMs facilities here will be acquired by GlobalFoundries, a successful and growing chip manufacturing company that views our highly-skilled workers and advanced R&D and manufacturing facilities as important to its strategic growth. We have learned in recent weeks that business at the plant is strong, and the plant is hiring more workers to meet demand. We expect that demand to continue and strengthen under GlobalFoundries. I have spoken with leaders from both IBM and GlobalFoundries, and appreciate that GlobalFoundries plans to continue employment, investment, operations in Vermont. The transaction is subject to federal approvals and will take some months to close. I am very confident that IBM and GlobalFoundries will partner with the State of Vermont to make this acquisition positive for our workforce and our economy. I have told them that I will help make this a successful transition, and am committed to forging a strong Vermont partnership with the plants new owner. While any acquisition of this magnitude will bring about change, I am confident that Vermont will not just survive the transition to GlobalFoundries but will thrive.”
Posted on: Mon, 20 Oct 2014 12:09:13 +0000
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