Quantum Closes Factories in US, Malaysia

Hard disk drive maker Quantum Corp is closing two plants in Malaysia and California and laying off 1,800 regular and 450 temporary employees.

Quantum expects to report a charge of US$160 million to US$190 million from the moves in the company’s fourth fiscal quarter ending March 31, 1996. The charge, two-thirds of which is non-cash, also includes the write-off of capital equipment and inventory and severance for employees affected by the closure of two plants.

In explaining the closure, Quantum regional marketing director David Rawcliffe said making the new generation of HDDs required a high level of factory automation which Matsushita-Kotobuki was best qualified to handle. Read more

← Previous Page