Onsemi to sell two chip plants in $35 million cost-cutting drive
The post Onsemi to sell two chip plants in $35 million cost-cutting drive appeared on BitcoinEthereumNews.com. Onsemi (ON Semiconductor) has agreed to sell two of its manufacturing facilities as part of a broader effort to reduce operating costs and improve gross margins, the chipmaker announced on Tuesday. The company expects the sales to generate approximately $35 million in annual cost savings. Production plant sales on different timescales Onsemi plans to sell its Mountain Top production facility in Pennsylvania to Silex Microsystems. This transaction is expected to be fully completed by January 2028. Both companies explained that the long transition period is to allow enough time to move the products made in the facility to other plants in Onsemi’s network, and to ensure no disruptions in its supply to customers. The second facility, Onsemi’s Tarlac plant, will be purchased by Greatek Electronics, a Taiwanese semiconductor firm. This transaction is billed to be easier to complete,