Integrated Micro-Electronics Inc. (IMI) of the Ayala Group said it continues to streamline its operations with the closure of a manufacturing facility in China.
It said the decision came several months after it closed its prototyping and manufacturing activities in IMI USA, dissolved its offices in Japan and Malaysia and downsized its office in Singapore due to continued slowdown in demand for electronics.
IMI said the closure of China facility is part of the company’s ongoing efforts to streamline operations and reduce costs and to consolidate its footprint into strategically located facilities.
It said production at IMI Chengdu ended in December 2024, after fulfilling all customer commitments. The remaining customer projects were also transferred to other IMI sites.
IMI said it would complete the transfer of assets and equipment by the end of January 2025 as part of the closure process.
The facility is scheduled to be formally turned over to the landlord by February 2025.
It is now is working to comply with local government regulations, initiating a six-month winding up period starting in February 2025.
This strategic move is expected to enhance operational efficiency and bolster IMI’s capability to deliver high-quality products and services to its global portfolio of customers from its other strategically positioned manufacturing sites.
“We are taking these steps to ensure our operations remain aligned with market demands while enhancing our ability to serve customers with agility and cost-effectiveness,” said Louie Hughes, IMI chief executive.
It earlier said the global restructuring would yield $5 million in annual savings for the company.
IMI is a leading global electronics manufacturing solutions (EMS) expert specializing in highly reliable and quality electronics for long product life cycle segments in the automotive, industrial, power electronics, communications and medical industries.
IMI ranks among the top EMS providers in the world by the Manufacturing Market Insider, based on 2023 revenues and remains among the top ten in the automotive sector according to New Venture Research.
