Integrated Micro-Electronics Inc. (IMI), the listed semiconductors and electronics manufacturing arm of the Ayala Group, has shut down its Kuichong facility to consolidate its China business in a single location.
In a regulatory filing on Wednesday, IMI said final production activities in Kuichong ended on Tuesday, Sept. 30. They are now integrating operations into IMI’s Pingshan facility.
‘Throughout this transition period, IMI’s management team will prioritize business continuity and ensure that key customer accounts from IMI Kuichong will be served with minimal disruption,’ IMI said in its disclosure.
‘This strategic move is expected to further improve operational efficiency, increase capacity utilization in IMI Pingshan and further streamline IMI’s footprint in China,’ it added.
This follows IMI’s P635-million exit from its Czech Republic business in June as it sought to cut losses and return to profitability.
Its subsidiary, Cooperatief IMI Europe UA, had agreed to sell 100 percent of IMI Czech Republic to Keboda Deutschland GmbH and Co. KG. /dda