Wednesday, February 29, 2012

WD Divests 3.5-inch HDD Assets To Toshiba

Irvine-based Western Digital, the manufacturer of hard disk drives, reported this morning that it has reached an agreement with Toshiba Corporation, to divest certain assets for manufacturing and selling 3.5-inch hard drives. WD said the move comes to address the regulatory agencies approving and reviewing its planned acquisition of Hitachi Global Storage Technologies. Financial details of the sale were not announced. WD said the move is conditioned on closing of WD's own acquisition of Hitachi Global Storage Technologies. As part of the divestment, WD said it has agreed to acquire Toshiba Storage Device (Thailand) Company Limited (TSDT), which manufactured hard drives in Thailand. TSDT's operations in Thailand have been shut down since the catastrophic floods in that country last year. WD said it would integrate those operations and employees into its own operations in the country.

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