June 27, 1989 |
Microsemi Corp., a Santa Ana semiconductor manufacturer, said it plans to take over operations of a troubled Texas semiconductor company. Microsemi said it will manage Varo Quality Semiconductor Inc. during the period when the Garland, Tex., firm is facing foreclosure proceedings from a bank lender. Under a contract between Microsemi and Varo, a Microsemi subsidiary will acquire most of Varo's assets and operations from the bank at a private foreclosure sale. Following the sale, the subsidiary, Micro Quality Semiconductor Inc., plans to resume operations at the Varo plant in Texas.