TOKYO: Panasonic Corp plans to sell three chip-assembly plants in South-East Asia to Singapore’s United Test and Assembly Center Ltd (UTAC), according to sources familiar with the matter, as part of Panasonic’s global reorganisation.
The three plants to be sold to UTAC in Indonesia, Singapore and Malaysia account for most of the 6,000 employees in Panasonic’s overseas chip operations. The news was first reported in the Nikkei business daily.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
