GRESHAM, OR — November 30, 2001 — Fujistu Limited said it is closing it Gresham semiconductor manufacturing facility, Fujitsu Microelectronics, by the end of January as the company continues to feel the market slump.

The closure will result in the loss of about 670 jobs, the company said.

The move comes as part of a global restructuring of its semiconductor facilities. Fujistsu also plans to consolidate production of flash memory devices at Fujitsu-AMD Semiconductor Ltd., it’s joint venture manufacturing facility in Aizu-Wakamatsu, Japan.

The Gresham plant was established in October 1988 as Fujitsu’s first overseas wafer fab facility and served as a key production base for the company?s memory products. In April, the company converted the facility’s production lines to flash memory. According to a company statement the “precipitous and prolonged downturn of the flash memory market since the beginning of the year” contributed to the decision to shut the plant down.

Before deciding to close the plant, Fujitsu had been considering whether to convert it into a joint venture with Advanced Micro Devices.