Trio-Tech to sell Ireland Facility
As previously announced, Trio-Tech closed its European Electronic Test Centre in Dublin on August 31, 2005. Subject to certain contingencies including financing, the transaction is expected to close by the end of October 2005. Trio-Tech has received a cash down payment of euro 885,000.
"As semiconductor manufacturing shifts increasingly toward Asia, we are focusing our long-term development efforts in this area as well. The sale of our European Electronic Test Centre is an important step forward in this strategy, and is not expected to have any adverse effect upon the company's operations. We are adding capacity in Singapore and actively evaluating opportunities to expand our business in China," said president and chief executive officer SW Yong.
Founded in 1958, Trio-Tech International provides third-party semiconductor testing and burn-in services primarily through its laboratories in Southeast Asia. Headquartered in Van Nuys, California, the Company also designs, manufactures and markets equipment and systems used in the testing and production of semiconductors, and distributes semiconductor processing and testing equipment manufactured by others.