Electronics Production | July 28, 2008
STMicroelectronics rumoured not to close European plants
According to market speculations mentioned on evertiq in June, ST Microelectronics is planning to close or sell 5 of its 30 European operations. However, latest reports paint a different picture.
The Maltesian Finance, Economy and Investment Minister Tonio Fenech, said that the Swiss group had announced that it did not intend closing down any plants in Europe, reports The Malta Independent. This would be good news for the island as discussions about a possible withdrawal of manufacturing operations by STMicroelectronics have been very intense.