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Components | September 07, 2012

Micronic Mydata to slow down LDI development, cuts jobs

Micronic Mydata AB will slowdown LDI (Laser direct imaging) development, resulting in staff reductions of 50-60 employees.
The company announced today that it expects the measures to cut costs by SEK 60 million annually. The staff reductions will occur in the Swedish headquarters as well as in the global organization.

“The market for advanced packaging and substrates (micro circuit boards) is developing at a slower pace than previously predicted,” the company said in a statement.

“We believe that the interest from the electronics industry remains as strong, even though the implementation of higher requirements on substrates is moving forward at a slower pace than previously predicted”, says Peter Uddfors, President and CEO of Micronic Mydata AB.

“The acceptance of our technology is substantial, which has been further proven by the fact that one of our collaboration customers has now agreed to take delivery of their first tool. Micronic Mydata will recognize the revenue of this tool during the third quarter. The slowdown in the market however makes it hard to predict when the next order will come”.

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