San Jose-based Maxtor Corp says it has now completed the transfer of its headstack assembly operation in Penang, Malaysia to Read-Rite Corp and completed the sale of the Lanham, Maryland-based US Design division of its Storage Dimensions Inc acquisition to an investment group led by Grotech Partners of Baltimore; it got $7.4m from Read-Rite with nearly $9m more to be paid upon formal transfer of the Penang building and equipment, which is expected to be by the end of January, pending Malaysian government approval; as for US Design, the transfer agreement calls for an initial payment of over $2m with provisions for Maxtor to get a portion of the company’s future revenues.
