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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Intel to close Shanghai plant amid global crisis: statement AFP - Friday, February 6 SHANGHAI (AFP) - - The world's largest chip maker Intel Corp said Thursday it would shut down an assembly and test factory in Shanghai and move it to a city in China's far west due to the global economic crisis. ADVERTISEMENT The move will affect about 2,000 employees, who will be offered jobs in the western city of Chengdu or other Chinese locations where Intel operates, the US-based company said in a statement. The consolidation, which will take place over the next 12 months, came "as a result of current economic conditions", the statement said. "The economic downturn has had an enormous impact on the semiconductor sector, forcing companies to take measures to cut costs," said Liu Liang, an analyst with Industrial Securities, according to state-run Xinhua news agency. "Moving operations from Shanghai, a high-cost city, to a cheaper place like Sichuan might be an effective way to cope with the financial crisis," he said. Intel plans to keep a research and development centre in Shanghai, which will also remain the China headquarters for the company. It said it was still going ahead with the construction of a plant in the northeast Chinese city of Dalian. The cost of this plant was previously given as 2.5 billion dollars. Intel last month announced plans to close facilities in Malaysia, the Philippines and the United States. Those moves were expected to affect between 5,000 and 6,000 employees worldwide, the company said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy CORRECTED: UK slashes rates to record lowReuters - 54 minutes ago CORRECTED - TOPWRAP 6-UK slashes rates to record low, ECB rate on holdReuters - 1 hour 4 minutes ago Gottschalks Q4 sales fall 9 pctReuters - 1 hour 19 minutes ago Wall Street slides on data, earningsReuters - 1 hour 20 minutes ago Related Articles: Business SNAPSHOT - Financial Crisis - 1529 GMTReuters - 32 minutes ago Stocks extend slide as factory orders fallAP - 34 minutes ago SNAPSHOT - Financial Crisis - 1527 GMTReuters - 34 minutes ago Factory orders drop 3.9 percent in DecemberAP - 36 minutes ago Husky Energy profit falls with crude pricesReuters - 47 minutes ago Enlarge Photo Intel to close Shanghai plant amid global crisis: statement Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Bus-sized boa slithers into record books Madoff fraud hit up to 3 mln victims: law firm Bombshell withdrawals rock Obama administration 'Horrifying' year for SAS ends with losses, layoffs Global warming 'irreversible' for next 1000 years: study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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