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Intel pulls out Philippines operations

Posted: 09 Apr 2008     Print Version  Bookmark and Share

Keywords:chip maker  assembly operations 

Intel Corp, the world's top chip maker is considering pulling out of the Philippines, according to a report in the newspaper BusinessWorld, citing a statement from Intel.

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 151 crore (1.51 billion dollars) in the country.

The economic daily said the subsidiary's senior management discussed its long-term options with the employees. "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 fab in Cavite," the daily quoted an Intel press release as saying.

BusinessWorld quoted company sources as saying Intel would decide on the fate of the site within six to nine months. It also 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

In response to the report and inquiries, a company statement has reiterated "that it has made no decision on this matter and is currently exploring multiple options."





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