Looking to rebound after a difficult year, Thailand's Alphatec Electronics set plans to announce its restructuring plan as early as next month.
Bangkok, Thailand-based Alphatec, Thailand's largest electronics company, said Monday it would give no specific details about the plan until it emerges from a year-long financial crisis.
Last August, Alphatec was forced to restructure its operations and retrench after its bondholders voted not to declare the company in default of its European Convertible Debentures despite missing several payments.
Alphatec officials also would not comment on the fate of its two troubled wafer fab projects -- Submicron Technology and the now-defunct, joint DRAM venture with Texas Instruments, which was called Alpha-TI Semiconductor Co.
Last May, TI scrapped the venture after Alphatec was unable to raise capital for the project. Dallas-based TI took a $44 million charge against its second quarter earnings as a result of the termination of its venture with Alphatec. A number of capital equipment suppliers also took charges against their earnings for fab gear sold to Submicron.
The Thai company reportedly is still looking for foreign partners to invest in the two fab projects. So far, though, it has not been successful, leaving observers to believe Thailand's hope of building its first wafer fabs are all but over for now.