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© Toshiba Electronics Production | November 17, 2011

Flood postpones Toshiba sale

Toshiba Corporation and Amkor Technology have announced they will postpone JV discussions due to flooding in Thailand.

The companies said that in light of severe flooding in Thailand affecting the operations of a subsidiary of Toshiba, Toshiba Electronics Malaysia Sdn. Bhd., they have jointly agreed to postpone discussions regarding the previously announced proposed acquisition by Amkor of Toshiba's semiconductor assembly operation in Malaysia. "We express our sympathies to the victims of the flooding in Thailand, as well as to Toshiba and all of their employees who have been affected by this tragedy," said Ken Joyce, Amkor's president and chief executive officer. "We are working closely with Toshiba to support them during this challenging time and we certainly understand and respect their decision to postpone our negotiations at this time while they focus on the more immediate business needs created by the flood."
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