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PSi closes China plant, transfer services to Manila

Posted: 10 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Semiconductor assembly test? PSi Technologies test? PSi test Philippines?

PSi Technologies Holdings Inc., an independent provider of assembly and test services for the power semiconductor market, recently announced that it has informed the Management Committee of the Chengdu Hi-Tech Zone of its decision to close PSi's facility in Chengdu, Sichuan, China.

Based in Manila, Philippines, PSi said commercial operations are expected to cease by the end of this month, with loading from the Chengdu facility partially shifting to PSi's facility in Laguna, Philippines.

PSi expects to incur approximately $2.9 million in asset impairment charges and $0.23 million in severance costs. After closure and dissolution, said the press, the company expects to reduce consolidated operating losses by up to $1.8 million on an annualized basis.

PSi customers include Fairchild Semiconductor, Infineon Technologies, ON Semiconductor, Philips Semiconductor, and ST Microelectronics.

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