Spansion Plans to Sell Suzhou Plant to Powertech Technology
SUZHOU, Aug 26, 2009 (SinoCast Daily Business Beat via COMTEX) --
Company: Powertech Technology Inc (PWOGF)
Flash memory solution provider Spansion plans to sell its Suzhou final manufacturing plant to Taiwan-based Powertech Technology Inc. (TPE: 6239) for CNY 31 million.
As an important part of its regrouping plan, the move aims to reduce fixed costs and turn to diversified production modes, Spansion explained two days ago.
The final manufacturing plant, located in Suzhou, Jiangsu Province, east China, has 565 employees or so. It is mainly engaged in multi-chip packaging (MCP) research, MCP, FBGA, and TSOP manufacturing, packaging, and testing, as well as customer supporting.
Powertech Technology is a world-leading storage chip testing and packaging service provider in terms of revenues. The company reaped operating revenues of CNY 2.65 billion for July 2009, the monthly highest in the year. Moreover, it will strive for CNY 8 billion this quarter, rising about 12% quarter on quarter.
Last Friday, Powertech Technology shares climbed CNY 0.9, closing at CNY 89.
Source: www.163.com (August 26, 2009)
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Company: Powertech Technology Inc (PWOGF)
Related terms: china, manufacturing, packaging, plant, research, taiwan, technology, SinoCast China Business Daily news, flash memory solution, sell, final manufacturing plant, Suzhou, storage chip, testing, packaging
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