Industry
onsemi to sell two chip plants in U.S., Philippines to cut $35 million in annual costs
Semiconductor company onsemi plans to sell two production facilities to cut manufacturing costs and improve gross margin, Cryptopolitan reported. The company will sell its Mountain Top plant in Pennsylvania and a facility in Tarlac, the Philippines, and expects annual savings of about $35 million. Silex Microsystems is set to buy the Mountain Top site, with closing targeted by January 2028. Greatek Electronics will acquire the Tarlac facility, with completion expected within 3 to 6 months.
