Intel to close Shanghai plant

[LahoreEstate]

Intel to close Shanghai plant

SHANGHAI, Feb 5: The world’s largest chip maker Intel Corp said on Thursday it would shut down an assembly and test factory in Shanghai and move it to a city in China’s far west due to the global economic crisis.

The move will affect about 2,000 employees, who will be offered jobs in the western city of Chengdu or other Chinese locations where Intel operates, the US-based company said in a statement.

The consolidation, which will take place over the next 12 months, came “as a result of current economic conditions”, the statement said.

“The economic downturn has had an enormous impact on the semiconductor sector, forcing companies to take measures to cut costs,” said Liu Liang, an analyst with Industrial Securities, according to state-run Xinhua news agency.—AFP

http://www.dawn.com/2009/02/06/ebr19.htm