Advertise with us
[August 27, 2014]
Fairchild to close down Penang ops [Business Times (Malaysia)]
(Business Times (Malaysia) Via Acquire Media NewsEdge) GEORGE TOWN: Fairchild Semiconductor International Inc is shutting down its operations in Penang as part of a worldwide manufacturing realigning exercise, which is likely to see over 1,000 jobs here axed.
The Malaysian Investment Development Authority (Mida) said it would assist affected suppliers of Fairchild by introducing them to new business opportunities while state-owned invest-Penang said it would work with Fairchild to offer job placement options, counselling and other assistance to affected employees.
The San Jose, California, headquartered company, which was known as National Semiconductor when it first came to Malaysia in 1972, said on Monday it will close manufacturing and assembly operations in West Jordan, Utah, the United States. It is also expected to close several ageing production lines in Bucheon, South Korea.
Its Penang facility at the Bayan Lepas Free Industrial Zone and its investment was touted as the catalyst of Malaysia's semiconductor business and placed on the world map as one of the largest suppliers of computer chips.
Mida chief executive officer Datuk Azman Mahmud when contacted said: "We regret that Fairchild has to close their operations in Penang on account of circumstances beyond their control. We understand that the company's global business strategy has changed and therefore they decided to close three of their global operations, including Penang." (c) 2014 The New Straits Times Press (Malaysia) Berhad. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Back To NFVZone's Homepage