SAN FRANCISCO (Thomson Financial) - Littelfuse Inc. late Wednesday said it
plans to transfer its semiconductor assembly and test operation from Matamoros,
Mexico, to Wuxi, China, over a two-year transition period.
About 950 employees in Matamoros will be affected by the move, the Des
Plaines, Ill.-based company said.
Littelfuse said it anticipates pretax restructuring charges of about $6.3
million, of which $5 million is expected to be recorded in the first
quarter of 2008.
The project is expected to generate about $7.4 million in annual
savings, the company said.
When the transfer is completed, semiconductor assembly and test operations
will be in the same location as Littelfuse's new Wuxi wafer fabrication
operation, which is scheduled to start production in the first quarter of
2009.
The company's stock closed the regular session down 26 cents at $30.45.
Katherine Hunt
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