Microsemi Corp. has closed a manufacturing plant in China, the Aliso Viejo-based chipmaker said after the close of intraday trading Tuesday.
The company didn’t detail which products were manufactured at the facility but described them as “lower value” devices not aligned with its strategic direction.
Microsemi said resources will be invested elsewhere in higher value growth products and end markets.
It said the closure won’t have a material impact on earnings.
The plant, in Shanghai, was its only manufacturing factory in China, according to its annual report.
Microsemi is OC’s fourth largest chipmaker by local employee count, with about 240 workers. It had revenue of $1.6 billion in the 12 months through September, the end of its fiscal year.
Its shares were relatively flat in afternoon trading to a market value of $5.8 billion.
