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ON Semiconductor to Explore Sale of Manufacturing Facility in Belgium

ON Semiconductor Corporation (Nasdaq: ON) today announced it is exploring a sale of its manufacturing facility in Oudenaarde, Belgium.

Benzinga · 02/03/2020 10:31

ON Semiconductor Corporation (Nasdaq: ON) today announced it is exploring a sale of its manufacturing facility in Oudenaarde, Belgium. The company will begin searching for strategic partners that are willing to enter into a mutually beneficial arrangement that the company expects will facilitate an orderly transition of products from its Oudenaarde facility to other facilities within the ON Semiconductor network.

The Oudenaarde facility is an automotive qualified facility which meets the IATF 16949: 2016 global industry standard for quality management. The company believes that the facility is an attractive semiconductor manufacturing asset for a number of reasons, including its highly skilled workforce with extensive experience managing a diverse array of technologies and its close proximity to the world's leading automotive innovation and manufacturing hub. Currently, the 44.000 m2 facility supports the company's low, medium and high voltage analog CMOS and BCD technologies.

As part of its effort to promote an orderly transition for all parties involved, the company also plans to enter into a supply agreement under mutually agreeable terms.