Don't miss

Replay


LATEST SHOWS

INSIDE THE AMERICAS

US presidential race: Trump triumphs over Republican rivals

Read more

IN THE PAPERS

'Time for a third party'

Read more

BUSINESS DAILY

US doubles recall of faulty airbags

Read more

EYE ON AFRICA

Papa Wemba is buried in Kinshasa

Read more

MEDIAWATCH

Some Republican Party members dump Trump for Hillary

Read more

MEDIAWATCH

Hollande unofficially kicks off his re-election campaign

Read more

THE DEBATE

President Trump? Celebrity billionaire confounds Republican party (part 2)

Read more

THE DEBATE

President Trump? Celebrity billionaire confounds Republican party (part 1)

Read more

THE INTERVIEW

Helen Clark: 'I’m the best person for the job of UN Secretary-General'

Read more

Business

French Freescale plant to be shut down: 1,700 jobs at risk

Latest update : 2009-04-23

US semiconductor manufacturer Freescale intends to close its French plant, which employs some 1,700 people, by the end of 2011. The group also plans to shut down one of its Japanese plants, in an effort to remain "competitive".

AFP - US semiconductor manufacturer Freescale announced on Wednesday that it was closing plants in France and Japan.
  
The Austin, Texas-based Freescale said that "in order to remain competitive and maintain an efficient manufacturing footprint" it was closing facilities in Toulouse, France, and another in Sendai, Japan, by the end of 2011.
  
The privately held company said in a statement that the moves resulted from its decision to stop manufacturing 150mm chips.
  

Freescale, which also recently announced plans to abandon the cellular handset business, said the closures should result in severance costs of 200 million dollars and eventual annual cost savings of 100 million dollars.
  
Freescale reported net earnings of 1.76 billion dollars in the first quarter of the year, accomplished mainly through the one-time elimination of long-term debt.
  
Freescale designs and makes semiconductors for the automotive, consumer and wireless industries.

Date created : 2009-04-23

COMMENT(S)