Intersil Corporation announced today that it plans to embark on a phased closure of the company's Findlay, Ohio operation, which manufactures integrated circuits primarily for automotive and industrial applications.
Intersil employs 430 people at its Findlay location.
This decision is part of the company's previously announced strategy of de-emphasizing automotive and industrial products to focus on communications, it said.
"Our plan to exit our legacy automotive business has been accelerated due to weakening economic conditions and decreased demand for these products over recent months," said Greg Williams, Intersil president and CEO, in a released statement.
"This action, although difficult, will allow us to focus resources on higher growth opportunities within our analog portfolio," the statement added.
Intersil will begin a phased plant closure process it expects to complete within 12 to 18 months, during which the company will continue to try to identify a buyer for the manufacturing facility and automotive business.