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Microsemi to Close China Manufacturing FacilityALISO VIEJO, Calif., March 21, 2017 /PRNewswire/ -- Microsemi Corporation (Nasdaq: MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, today announced the planned closure of its manufacturing facility in China. Focused on lower value discrete solutions, the devices manufactured at the facility are not aligned with Microsemi's strategic direction, and company resources will be invested elsewhere in higher value, higher growth products and end markets. Customers have been notified and the process of closure is under way. No material impact on earnings for the company is expected due to this closure. About Microsemi Microsemi and the Microsemi logo are registered trademarks or service marks of Microsemi Corporation and/or its affiliates. Third-party trademarks and service marks mentioned herein are the property of their respective owners. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements concerning Microsemi's planned closure of its manufacturing facility in China, the investment of company resources elsewhere in higher value, higher growth products and end markets, and the expected impact on earnings, are forward-looking statements. These forward-looking statements are based on our current expectations and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The potential risks and uncertainties include, but are not limited to, such factors as rapidly changing technology and product obsolescence, potential cost increases, variations in customer order preferences, weakness or competitive pricing environment of the marketplace, uncertain demand for and acceptance of the company's products, adverse circumstances in any of our end markets, results of in-process or planned development or marketing and promotional campaigns, difficulties foreseeing future demand, potential non-realization of expected orders or non-realization of backlog, product returns, product liability, and other potential unexpected business and economic conditions or adverse changes in current or expected industry conditions, difficulties and costs of protecting patents and other proprietary rights, inventory obsolescence and difficulties regarding customer qualification of products. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K and all subsequent Form 10-Q reports filed by Microsemi with the SEC. Additional risk factors may be identified from time to time in Microsemi's future filings. The forward-looking statements included in this release speak only as of the date hereof, and Microsemi does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/microsemi-to-close-china-manufacturing-facility-300427180.html SOURCE Microsemi Corporation |