Aviza files Chapter 11 bankruptcy
by Press-Banner
Jun 10, 2009 | 749 views | 0 0 comments | 8 8 recommendations | email to a friend | print
Aviza Technology of Scotts Valley announced today, June 10, that it has filed voluntary Chapter 11 bankruptcy protection because of sales declines and trouble with lenders.

The company also said that is is pursuing an arrangement to sell most of its assets to Sumitomo Precision Products of Hyogo, Japan, another manufacturer of equipment to make semiconductors.

Aviza, created in 2003, took over the former Watkins-Johnson manufacturing facility next to Skypark. In recent years, it has failed twice to complete a sale of the property so it could move to smaller facilities in Silicon Valley.

The value of its stock had dropped so far that the NASDAQ stock market had warned the company that it was about to be delisted.

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