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Electronics Production | May 12, 2008

STMicro demands millions to stay on Malta

ST Microelectronics is asking the government on Malta for “tens of millions of dollars” in financial support so that the company can continue to operate on Malta.

This information was revealed by the Malta’s Finance Minister Tonio Fenech. ST Microelectronics is considering to transfer the production from Malta to elsewhere, possibly Asia, due to increased labour costs. The Sunday Times said the future for ST in Malta would depend on the upcoming annual general meeting when the current management is either reconfirmed or changed. ST Microelectronics is employing 2200 employees on Malta.
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