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Onsemi, Czech Ministry of Industry and Trade Cancel $2 billion Chip Facility Expansion Plan

Investing.com · ·by G4L

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ON ON Semiconductor Corp
$69.61 +0.72%
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  1. 1Onsemi has decided to halt its silicon carbide project in the Czech Republic.
  2. 2Semiconductor manufacturer Onsemi abandoned its multi-year expansion plan involving $2 billion in costs.
  3. 3Karel Havlicek noted that this decision reflects the current state of the global semiconductor market.

So what's the key point?

Onsemi canceled its plan to build a large semiconductor factory in the Czech Republic. The company stopped the project that was intended to expand facilities using $2 billion.

Source Investing.com · View original ↗

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