Onsemi and Czech ministry cancel $2 billion chip facility expansion
In short
The joint development initiative involving a state-supported semiconductor facility has been formally called off. Both Onsemi and the government ministry will no longer pursue the planned multibillion-dollar capital expansion in the region. This mutual move ends all scheduled project milestones and investments that were under development between the state and the company.
Key points
- Capital expenditure plans valued at two billion dollars have been discarded by both parti…: Capital expenditure plans valued at two billion dollars have been discarded by both participating sides.
- State-backed efforts to expand semiconductor fabrication with the corporate partner have…: State-backed efforts to expand semiconductor fabrication with the corporate partner have ended completely.
- Future operations will no longer include the previously arranged manufacturing facility i…: Future operations will no longer include the previously arranged manufacturing facility in the Czech Republic.