Shaker Sadasivam, president and CEO, SunEdison Semiconductor Ltd.
SunEdison Semiconductor Ltd., the St. Peters-based silicon wafer company, said Tuesday it will close a facility in Malaysia that produces 200 millimeter semiconductor wafers as the company consolidates its manufacturing footprint to better meet industry demands.
Capacity from the Ipoh, Malaysia, wafer plant will be relocated to the company’s other remaining seven plant sites, including in Novara, Italy. Company officials said they don’t expect SunEdison Semiconductor’s total capacity to change.
The move, to be completed by the end of 2016, will affect 650 employees and cost the company between $4 million and $6 million in severance expense, of which about $2 million to $4 million is expected to be incurred in the third quarter of 2015 with the balance incurred over the next 12 to 16 months.
The closure also will cost the company between $35 million and $45 million of long-lived asset impairment charges for 2015, plus costs related to contract termination, facility exit costs and asset transfer costs. In all, the closure will cost SunEdison Semiconductor as much as $65 million.
More details on the closure are expected to be shared on the company’s second quarter results conference call, scheduled for Thursday.
Shares of SunEdison Semiconductor (NASDQA: SEMI), led by President and CEO Shaker Sadasivam, were trading at $13.76 early Tuesday, an all-time low for the company and down from its 52-week high of $27.14 in March.How to measure wrist size? How to search incognito? How to build a dog kennel tips and tricks? Why does doordash hide tips reddit? What does the name kimberly mean? what is a helper class in css What is meaning of abdomen? How to get rid of popcorn ceiling? What do you call them swimmwers that do tricks with there legs? What are liquid assets examples? How to apply for social security benefits? How to check storage on mac? what muscle is nicknamed “lat's little helper” because it assists with all of the same functions? Where your mom at meaning? what is helmet helper What is a flipper when referring to coin tricks? What is the meaning of american carnage? what aisle is hamburger helper in at walmart Prove all things hold fast that which is good meaning? 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