AYALA-LED Integrated Micro-Electronics Inc. (IMI) said Wednesday that the restructuring of its overseas operations would have little effect on group profits and yield annualized cost savings of approximately $5 million.
AYALA-LED Integrated Micro-Electronics Inc. said Wednesday that the restructuring of its overseas operations would have little effect on group profits and yield annualized cost savings of approximately $5 million.A day earlier, IMI said that unit IMI USA would cease its prototyping and manufacturing activities and that it was also closing its sales office in Japan and downsizing its Singapore and Malaysia offices.
'The end to IMI USA's prototyping and manufacturing activities will follow a partnership with California-based XLR8 Corp., a prototyping expert.XLR8 will provide the prototyping needs of IMI's selected customers, while IMI will become XLR8's preferred manufacturing partner for its mass production projects.IMI narrowed its net loss to $8.8 million for the first half of 2024 from a net loss of $83.7 million last year.
To Boost Profit By $5M Says IMI
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