Analog Devices Factories in Asia Resume ‘Normal Capacity Levels,’ Says CEO
Though the tech sector is “not immune to the turbulent operating environment” of COVID-19, technology will be “what modifies the current weakness and drives new demand and business models post-pandemic,” said Analog Devices CEO Vincent Roche on a quarterly call…
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Wednesday. Capacity was reduced at the chipmaker’s “back-end test and assembly sites” in the Philippines, Malaysia and Singapore when shelter-in-place mandates were ordered in mid-March, he said. “Once granted essential status, we acted quickly, yet responsibly, to ensure employee safety and improve our capacity.” The factories are running at “normal capacity levels” again, said Roche. “Post-pandemic supply chains will be reimagined and new ones will be built” that are more “flexible” and automated, he said. The stock closed up 7.8% at $114.57.