Spansion Contributes to Japan Earthquake Relief Efforts | Cypress Semiconductor
Spansion Contributes to Japan Earthquake Relief Efforts
Company's Production Flexibility Minimizes Impact to Product Supply
SUNNYVALE, Calif., March 15, 2011 --
Spansion Inc. (NYSE: CODE), a leading provider of NOR Flash memory, today announced it will donate $250,000 to the Red Cross for the Japan earthquake and tsunami relief efforts. Spansion has also established an additional employee assistance fund to reimburse expenses such as food, hotels and transportation during the devastating earthquake and Tsunami.
"Our hearts go out to the people impacted in this horrible tragedy. Thankfully our Spansion employees have all been accounted for and are safe," said Carmine Renzulli, senior vice president of worldwide human resources at Spansion. "We will continue to monitor the situation and determine how we can assist our employees, customers, partners and suppliers through our community relations programs today and as after effects may occur."
Flexibility in Production/Minimal Disruption to Supply
Spansion's final manufacturing sites are outside Japan and the impact to near term product supply is expected to be minimal. Spansion is actively engaged in working with its manufacturing partners in Japan to provide assistance and understand any future changes to production as they deal with the tragedy daily. In order to ensure stability of supply to customers, Spansion has the flexibility to move manufacturing of certain products to its Austin facility or other partners as the situation evolves.
Spansion (NYSE: CODE) is a leading provider of the Flash memory technology at the heart of the world's electronics systems, powering everything from the routers that run the internet to the highly interactive and immersive consumer and automotive electronics that are enriching people's daily lives. Spansion's broad and differentiated Flash memory product portfolio, award-winning MirrorBit charge-trapping technology, and industry leading service and support are enabling customers to achieve greater efficiency and success in their target markets. For more information, visit http://www.spansion.com/.
Spansion(R), the Spansion logo, MirrorBit(R), and combinations thereof, are trademarks and registered trademarks of Spansion LLC in the United States and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.
This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those statements. The risks and uncertainties include the company's ability to mitigate any adverse effect the Japanese earthquake and tsunami may have on the company's product supply, manufacturing operations or other areas of the company's business. The company urges investors to review in detail the risks and uncertainties discussed in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for fiscal 2010. Unless otherwise required by applicable laws, the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.