Freescale Semiconductor completes spin-off from Motorola
AUSTIN, Texas—(BUSINESS WIRE)—Dec. 2, 2004—
Freescale Semiconductor (NYSE:FSL) (NYSE:FSL.B)
New firm with more than 50 years experience and global presence is
third-largest U.S. semiconductor company
Freescale Semiconductor, Inc. (NYSE:FSL) (NYSE:FSL.B) began its
new era as a fully independent company today following Motorola,
Inc.'s (NYSE:MOT) distribution of its remaining equity interest in
Freescale on Dec. 2, 2004.
"I want to welcome the new shareholders to Freescale who are
joining us as a result of the spin-off," said Michel Mayer,
Freescale's chairman and chief executive officer. "Freescale is
combining the best aspects of our Motorola heritage with the
competitive spirit and fresh vision of a new enterprise. We are
excited to have these new investors with us as we move forward."
Distribution details
Motorola shareholders received .110415 of a share of Freescale
Class B common stock for each outstanding share of Motorola common
stock they owned as of Nov. 26, 2004. Freescale Class B common stock
will begin trading tomorrow on the New York Stock Exchange under the
ticker symbol "FSL.B." Freescale Class A common stock will continue to
trade on the New York Stock Exchange under the ticker symbol "FSL".
Positioned to succeed
Freescale is the third-largest independent semiconductor company
in the U.S. It is the global market share leader in semiconductors for
automotive applications, communications processors and wireless
infrastructure -- and among the leaders in several other large and
growing industry segments.
Freescale joins S&P 500(R) and Philadelphia Stock Exchange's
SOX(SM) indices
Standard & Poor's recently added Freescale to the S&P 500 Index.
Also, the Philadelphia Stock Exchange announced on Nov. 30, 2004 that
Freescale would join its "SOX" semiconductor index on Dec. 3.
Board of Directors changes
David W. Devonshire and Leif G. Soderberg have resigned as members
of Freescale's Board of Directors effective today. Mr. Devonshire is
executive vice president and chief financial officer of Motorola. Mr.
Soderberg is a senior vice president of Motorola. Both directors have
resigned as a result of the distribution by Motorola of its remaining
equity interest in Freescale.
Investor inquiries
Mellon Investor Services is available to provide information to
investors about the distribution at 1-877-300-7200. Shareholders
outside the United States and Canada should call 201-329-8660.
About Freescale Semiconductor
Freescale Semiconductor, Inc. (NYSE:FSL) (NYSE:FSL.B) is a global
leader in the design and manufacture of embedded semiconductors for
the automotive, consumer, industrial, networking and wireless markets.
Freescale became a publicly traded company in July 2004 after more
than 50 years as part of Motorola, Inc. The company is based in
Austin, Texas, and has design, research and development, manufacturing
or sales operations in more than 30 countries. Freescale, a member of
the S&P 500(R), is the third-largest independent semiconductor company
in the U.S.
www.freescale.com.
Freescale(TM) and the Freescale logo are trademarks of Freescale
Semiconductor Inc. All other product or service names are the property
of their respective owners. (C) Freescale Semiconductor Inc. 2004.
Contact:
Freescale Semiconductor, Austin
Investors:
Mitch Haws, 512-895-2454
mitch.haws@freescale.com
or
Media:
Glaston Ford, 512-895-6466
glaston@freescale.com
