Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Race debate overshadows Springbocks' preparation for World Cup

Read more

MEDIAWATCH

Photo of Syrian boy continues to cause furor

Read more

THE DEBATE

China's Might on Parade: Old foes wary of show of strength (part 2)

Read more

THE DEBATE

China's Might on Parade: Old foes wary of show of strength (part 1)

Read more

EYE ON AFRICA

Congolese warlord's trial opens in the Hague

Read more

FOCUS

Guatemala's presidential elections mired by corruption scandals and political turmoil

Read more

ENCORE!

David Lagercrantz on taking over Stieg Larsson's Millennium series

Read more

EUROPE NOW

Looking for a European identity (part 2)

Read more

EUROPE NOW

Looking for a European identity (part 1)

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)