Aug 17 2007
Nanometrics Incorporated, a leading supplier of advanced metrology equipment to the semiconductor industry, today announced that the company will close its Milpitas machine shop and plating facility as part of the company’s mission to reverse its vertical integration and lower its breakeven point.
In conjunction with this closure, Nanometrics will record a restructuring charge in the third quarter of 2007 in an amount of up to $4 million associated with the write-off of these assets. The company is pursuing a lease of these facilities and sale of related assets.
“A key element of our restructuring plan is to unwind our vertical integration strategy, converting fixed costs to variable costs,” commented Bruce C. Rhine, chief executive officer of Nanometrics. “Integrated machining and plating do not add value to our business, and disposing of this facility will improve Nanometrics’ cost structure and lower the breakeven point for the company.”