NC wafer fab closing in 12-18 mos. Not a big surprise. Thanks Starboard.
Company wide announcement at noon today.
Public announcement at earnings call tonight.
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Activist investors reacted to President Donald Trump’s stark reversal of the CHIPS Act. Overnight, the U.S. subsidies underpinning Costa Rica’s competitive edge vanished. The U.S. CHIPS Act of 2022, injecting nearly $40 billion to boost production.
By July, both Intel and Qorvo confirmed they would shutter their Costa Rican manufacturing plants, relocating operations to Asia, as reported in corporate statements and government announcements.
Intel closed its assembly plant, operational since the 1990s, while Qorvo ended thirty years of manufacturing. Together, they eliminated up to 1,400 in Costa Rico and devastated hundreds of local suppliers.
I find it interesting that at this point, Qorvo has not talked to the local media in Greensboro. They have not issued a public timeline. Nor are they admitting that part of the jobs in Greensboro are going to Asia. Yet, Costa Rican officials are reporting the Saw facility is moving closer to the vendors in Asia.
Information sourced from: https://inews.zoombangla.com/costa-ricas-semiconductor-ambitions-derailed-as-intel-qorvo-exit-amid-u-s-policy-shift/
@a5 The only fab they have left in NC, the originally a GaAs 6" line/Fab 3. The GaAs 4" line was shut down years ago, before the Qorvo merger.
SAW and BAW R&D team will blow up all the savings afterwards
Richardson, Texas, which will incur $10-20 million in startup costs in fiscal year 2026 but is expected to generate annual cost of goods sold (COGS) savings beginning in late fiscal 2027 or early fiscal 2028.
The company-wide announcement confirmed that the Greensboro wafer fab operations (not necessarily the entire campus or company presence) are being wound down within the stated timeline....non-fab operations could remain, but all wafer fabrication will cease by 2026. The Greensboro closure is happening in tandem with the closure of another Qorvo fab in Costa Rica.
@OP pretty sure this has been in the works for a long time. Not a surprise, can you be more specific on which fab in NC?