"Fabtech": "The firm will close the site in April 2009." Can the Israel center avoid the same fate?
"Fabtech" reports that flash memory maker Numonyx Inc. will close its its R&D center in Santa Clara, known as the California Technology Center (CTC) in April 2009. The magazine cites company employees. The pending closure is attributed to the price declines for flash memory processors and the weakening macro-economic climate, which are forcing the company to close facilities and lay off employees.
Numonyx is a spin-off of Intel Corporation (Nasdaq: INTC) and STMicroelectronics NV (NYSE: STM), which took over their flash memory activities, a year ago. The company has 1,200 employees in Israel at the company's Fab 1 (previously Intel Fab 18) in Kiryat Gat.
There have been many rumors lately that Numonyx would restructure its Israeli operations, and it recently fired scores of contract employees. There is now concern that if the flash memory market does not recover soon, the California cutbacks will spread to Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on August 14, 2008
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