Product category: Power Supply ICs and Controllers
News Release from: ON Semiconductor
Edited by the Electronicstalk Editorial Team on 8 December 2003
Manufacturing to move offshore
ON Semiconductor is to phase out manufacturing operations at its facility in East Greenwich, Rhode Island
As part of its continuing strategy to streamline its global manufacturing network and improve its operating efficiency, ON Semiconductor will phase out manufacturing operations at its facility in East Greenwich, Rhode Island by the end of 2004. During the next year, the company plans to transfer the East Greenwich production to its lower cost manufacturing facilities outside North America.
This article was originally published on Electronicstalk on 8 December 2003 at 8.00am (UK)
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The discontinuation of manufacturing at the company's 20,000m2 facility in East Greenwich will result in the loss of approximately 330 jobs and is expected to give rise to a restructuring, asset impairment and other charge of $15 million to $20 million in the fourth quarter of 2003.
ON Semiconductor estimates that the cash component of this charge related to employee severance payments will be approximately $4 million and will be paid throughout 2004.
As a result of these actions, the company expects to realise manufacturing cost savings of $20 million to $25 million during 2005, as compared with the annualised costs for the third quarter of 2003.
The company expects modest savings during 2004 as the East Greenwich manufacturing operations transition to other facilities.
This decision impacts only the manufacturing operations in Rhode Island.
The company plans to maintain and develop its 100-employee design and business support operations in the Rhode Island area.
ON Semiconductor obtained the East Greenwich manufacturing facility as part of its acquisition of Cherry Semiconductor in April 2000.
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