LONDON – NXP Semiconductor NV (Eindhoven, The Netherlands), a chip company that has been undergoing a strategic overhaul and downsizing, after being loaded with debt by private equity buyers, has announced that Nutune, a joint venture, has been sold to affiliates of American Industrial Acquisition Corp. (AIAC).
Nutune was formed as a joint venture with Technicolor Inc. in June 2008 to combine NXP's and Technicolor's can TV tuner operations.
Nutune, headquartered in Singapore has 2,950 employees worldwide, including 2,800 manufacturing employees in Batam, Indonesia. The revenue of Nutune was approximately $79 million in the first three quarters of 2010. Details of the acquisition were not disclosed.
PT. NuTune Batam close
Nutune is owned company engaged in the business AIAC in RF / tuner.
In accordance with the announcement of management that began on 9 March 2012, Nutune Batam will be closed, in which permanent employees who want to take the package start date 1N can sign up 23 to 29 February 2012, and for contract only in accordance with the agreement you package (not in accordance with the laws of Indonesia). Of the announcement as if the employee agrees, but there is no agreement between the employee and perusahaan.Sekarang conditions began to heat up because the management wanted to try to buy time to negotiate, because not all of the assets sold. From information only SMT machines to be sold to pay debts in advance and the remainder for severance 1N Employee, and remaining machines will be sent to Singapore to set up New company / Subcon PT.NuTune Batam instead to support its customers.
@Sheetal its very simple, ex Thomson new Technicolor didnt have intention to buy whole unit, inspite wanted to grant their can tuners and position as a can-tuner source in far east. Also they didnt want to deal further with angry share holders at time due to sharp cuttings. Now its over company downsized well, and has IPs at market. thats fact they will cut further in order to cover depts sadly.
NXP is removing the old but still working for the new like NFC thechnology chips and also it's strong on USB chips for audio and multimedia.
It appears the trend is to downsize and be lean, concentrate on the strengths and cut away the weak limbs.
It is also true that the traditional CAN tuners will be becoming of less interest after Silicon Tuners, one can refer this article published on eetimes,
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