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Report: Price Of 'Old' IBM Plants Derailed Sale To GlobalFoundries

Vermont Public | By Steve Zind

Published July 25, 2014 at 6:04 PM EDT

A report published by Bloomberg news say talks between IBM and GlobalFoundries over the sale of Big Blue’s chip making division, including facilities in Essex Junction, broke down over price.

Bloomberg cites sources “familiar with the process.” The report says at issue were IBM’s manufacturing plants, which GlobalFoundries “placed little or no value on” due to their age.

Rumors of a deal between the two companies have been circulating since April.

IBM and GlobalFoundries have never confirmed that talks were taking place.

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Steve Zind

Steve has been with VPR since 1994, first serving as host of VPR’s public affairs program and then as a reporter, based in Central Vermont. Many VPR listeners recognize Steve for his special reports from Iran, providing a glimpse of this country that is usually hidden from the rest of the world. Prior to working with VPR, Steve served as program director for WNCS for 17 years, and also worked as news director for WCVR in Randolph. A graduate of Northern Arizona University, Steve also worked for stations in Phoenix and Tucson before moving to Vermont in 1972. Steve has been honored multiple times with national and regional Edward R. Murrow Awards for his VPR reporting, including a 2011 win for best documentary for his report, Afghanistan's Other War.

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