Diodes to shut down UK facility

As reported earlier, US-based Dioddes acquired Uk-based chip manufacturer Zetex earlier this year. Zetex's facility - located in Oldham, Greater Manchester - will be shut down. Commenting on the quarter, Dr. Keh-Shew Lu, President and CEO of Diodes Incorporated, said, “Due to current and future expectations for the overall economy, we have identified a number of expense reduction opportunities to optimize our cost structure across the organization." "These initiatives include [...] a shut-down of our 4-inch fab line in Oldham, headcount reductions at our wafer fab in Kansas City and a hiring freeze at all other locations.”