Tower plans temporary closures of US wafer fab
Tower Semiconductor Ltd. (Migdal Haemek, Israel) is planning three, week-long closures of its operations in the US including its wafer fab at Newport Beach, California, according to local reports.
Foundry chipmaker Tower is planning to close most of its US operations April 1 to 7, July 1 to 7 and October 7 to 13 impacting 699 employees. The three closures are being adopted in an attempt to avoid a longer shutdown and job cuts, Tower is reported saying.
It is reported that Tower – a broad-based foundry with manufacturing processes that support industrial, communications, automotive, aerospace and defense applications – is seeing a drop off in orders as customers come to terms with previous overstocking.
The news comes a few weeks after Tower was reported seeking support to build a wafer fab in India (see Tower proposes US$8 billion Indian wafer fab, says report). It also follows on from a deal to work with Intel in New Mexico. That deal to take wafers from Intel came after a plan for Intel to acquire Tower Semiconductor for about US$5.4 billion fell through (see Intel drops Tower acquisition).
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News articles:
Tower proposes US$8 billion Indian wafer fab, says report
Tower executives in talks to rekindle India fab plans
Tower JV signs agreement to build Indian wafer fab
Intel, Tower make New Mexico foundry deal
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