TTM closes China facility - laying off 600

TTM intends to transfer the PCB production at MAS to one or more of its other facilities located in China. The decision to close the MAS facility was based on the facility's capabilities not being consistent with TTM's advanced technology strategy, and the fact that it has not been profitable. In a press release the company states that it will offer separation and other benefits to the affected employees. TTM expects to record, primarily in the third quarter, between USD 10 million and USD 20 million in separation, asset impairment and disposal costs related to this restructuring.