BUSINESS IN SHORT

ON Semiconductor to close factories in Piešťany

AS OTHER companies announce new investments in Slovakia, one is leaving the country.On May 14, ON Semiconductor announced that after almost 10 years of operation in Slovakia it plans to close its two wafer manufacturing facilities in Piešťany and transfer production to other facilities it owns elsewhere. The closures are expected to occur over the next 12 to 18 months. The target date for the closures is the last quarter of 2009.

AS OTHER companies announce new investments in Slovakia, one is leaving the country.
On May 14, ON Semiconductor announced that after almost 10 years of operation in Slovakia it plans to close its two wafer manufacturing facilities in Piešťany and transfer production to other facilities it owns elsewhere. The closures are expected to occur over the next 12 to 18 months. The target date for the closures is the last quarter of 2009.

“This closure is not a reflection of the hard work and dedication of our employees in Piešťany,” said Keith Jackson, ON Semiconductor’s president and CEO, describing it as “part of our ongoing strategy to create operational efficiencies and add value for both our customers and shareholders.”
Closure of the two plants in Piešťany will result in the loss of approximately 400 manufacturing-related jobs, beginning in May 2009.
The company’s non-manufacturing business operations – which employ approximately 200 people – will remain in Piešťany. ON Semiconductor’s university-based Development Centre, located in Bratislava, will also remain.
ON Semiconductor Corporation has been active in Slovakia since 1999.

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