Silicon Foundry UMC Japan To Bite The Dust
At a meeting held by its board of directors, UMC subsidiary, UMC Japan, said it was to suspend company business and begin preparations for the dissolution of the firm.
Recent business performance and future prospects don't bode well for the company and financial performance improvements were not foreseen by the firm's board. Instead, it is anticipated that losses will increase if the company continues to conduct business.
Suspension of operations at the Tateyama plant will begin once the firm completes manufacturing its final orders. Once this is completed, the resolution on dissolution will be made by the board at an appropriate time. Final liquidation will include activities such as asset disposal, debt repayment and the distribution of residual properties.
UMC Japan provides semiconductor production technology to the advanced communication systems market.
