Thai floods Close Second Microsemi Plant |
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Microsemi said it closed a second facility just outside of the Thai capital of Bangkok. The ongoing flooding is to blame, and it is believed to be a test and assembly facility.
"With two of our subcontracted facilities in Thailand now shut down, we expect there will be some revenue effect in the current quarter and to a lesser extent the ensuing two to three quarters beyond," said James Peterson, Microsemi's president and CEO, in a statement. "We remain focused on the safety of our team and the community as we are working on a recovery plan to identify solutions that ensure our customers' needs are met as soon as is safe and practicable."
Microsemi said it is in the process of evaluating the revenue effect on the December quarter. The Ayutthaya and Bangkok facilities together can account for as much as 5 percent of the company's total quarterly revenues, Microsemi said.
Rampant flooding in Thailand over the past several weeks has claimed the lives of more than 350 people and caused numerous manufacturing facilities to close in several parts of the country.
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Posted by: Resurrection Plant
Informative Post.
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