Adios Fairchild Semiconductor (Malaysia) Sdn Bhd

Most baby boomers will know Fairchild Semiconductor International Inc. It started up in Penang as National Semiconductor (commonly known as NS by local) in 1972. The company has been in Penang since 1972 with other reputable multinational corporations. The company headquartered in San Jose, California, previous announced that it would cease its operations in West Jordan, Utah, Penang and Bucheon (South Korea) by end of this year 2015. About 1,000 workers will lose their jobs in Penang accordingly to a source. Some of them been offered to relocate to Fairchild Singapore (FSSG).

Fairchild Semiconductor was one of the eight companies that set up operations in Penang in 1970s, together with Advanced Micro Devices (AMD), Hewlett Packard (now called Agilent Technologies), Clarion, Intel, Hitachi (now called Renesas), Litronix (now called Osram Opto Semiconductor) and Robert Bosch. These multinational companies have been strategically position themselves in Phase One, Phase Two and Phase Three of Free Trade Zone (FTZ). Then naming of FTZ has since been renamed as Free Industrial Zone (FIZ), Bayan Lepas. Bayan Lepas Free Industrial Zone consists of four phases and technoplexes.

Fairchild Semiconductor (Malaysia) Sdn Bhd, Penang

Fairchild Semiconductor International Inc is selling its manufacturing facility in the Phase 2, Free Industrial Zone, Bayan Lepas as part of its world wide realignment exercise. The closure is said to affect around 15% of Fairchild's global workforce of 9000 employees. It is reported that the valuation for 20 acres of land where current Fairchild resides is going for RM200 per square foot (psf) to RM300 psf in valuation. There're two multinational corporations: one from Germany which involve manufacturing of medical devices, for the company's operations expansion and another from United States which interested to acquire the property located on over 20 acres. On the Fairchild's land sales in Bayan Lepas, the interested companies will have to approach Fairchild first for the sale and state government body consent: Penang Development Corporation (PDC) will be followed. Consent will be in favour of hi-tech industry with capital intensive and knowledge based.

Source | The Star

Boldly go. LLAP

This report has been researched and compiled by VULCAN INTERNATIONAL Real Estate Research Institute http://VulcanResearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://VulcanInternational.blogspot.com .

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