Microchip Technology Inc. will close its Tempe semiconductor wafer manufacturing facility in May, the company announced in a filing with the U.S. Securities and Exchange Commission.
The Chandler-based company had announced plans to close the facility in December but said in a March filing that the closure will be several months earlier than previously expected. The facility, located at 1200 S. 52nd Street in Tempe, and equipment from the plant are available for sale. The company did not specify why the closure was accelerated.
According to an investor presentation in February, the company’s revenue for the quarter was about $1.03 billion, a decline of nearly 12% quarter-over-quarter and nearly 42% year-over-year. Net debt increased by $33.6 million, but over the past 26 quarters, the company cumulatively paid down $6 billion in debt…