Intel might pull out its businesses in the Philippines.
------------------------------------------------
Intel Corp, the world's top chip maker is considering pulling out of the Philippines, the economic daily BusinessWorld said Friday, citing a company statement.
Located south of Manila and employing 3,000 people, Intel Technology Philippines Inc is the US firm's second offshore assembly operations center in Asia and also serves as a test site.
The company said it has invested around 1.51 billion US dollars in the country.
The economic daily said the subsidiary's senior management discussed its long-term options with the employees on Wednesday. Company spokesmen were not immediately available for comment.
"In an effort to keep employees informed, Intel has updated its employees that significant investments would be required to ensure the long-term viability of its factory building in Cavite," the daily quoted an Intel press release as saying.
"Intel would like to reiterate that it has made no decision on this matter and is currently exploring multiple options," it reportedly added.
BusinessWorld quoted company sources as saying Intel would decide on the fate of the site within six to nine months.
It quoted industry officials as saying that while high power costs are a problem in the Philippines, it could not have been the only factor being considered by Intel in deciding to review its options.
===============================================
http://news.smh.com.au/intel-considers-philippines-pullout-report/20080404-23p4.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment