Newport Wafer-Fab in administration

Newport Wafer-Fab in administration

Newport, South Wales

After securing an administrative order, Newport Wafer-Fab Ltd., Newport, South Wales, is hoping to initiate a financial restructuring or sell its foundry operation.

Recently, the directors of Newport Wafer-Fab petitioned the U.K. courts for an administration order, a similar process to a Chapter 11 bankruptcy filing in the U.S. The order was granted on December 3, 1998. Under the administration order, PricewaterhouseCoopers partners Derek Howell and Joe Considine have been appointed joint administrators. The firm will continue to operate under normal business conditions during the administration process; agreements with principal suppliers have been secured to ensure continuance of supply programs.

Last November, the foundry`s parent company, QPL International Holdings, Hong Kong, said the company was having cash flow problems, and recognized that a restructuring may be necessary. (WaferNews V.5.45, Bitlines.)

QPL established the foundry operation in 1992. Currently, Newport Wafer-Fab has three fabs; the latest is a 200-mm, 0.25-micron facility. — WaferNews (V.5.50)


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