- The company posted lower-than-expected Q3 numbers this morning along with plans it would expand IC manufacturing in China over a five-year period.
- The company intends to build a facility in Xiamen, China, signing an agreement in exchange for specific considerations and subsidies from The Administrative Committee of Xiamen Torch Hi-Tech Industrial Development Zone.
- Photronics (NASDAQ:PLAB -10.4%) will construct and operate the facility, with production slated to begin in 2018. Transferred capital and cash with the option of local financing are being employed to fund the project.
- Earnings press release
- Earnings call transcript
- Earnings slides