Filtronic PLC
25 June 2007
Filtronic plc
Compound Semiconductor update
Filtronic is providing the following statement for its Compound Semiconductor
business.
As reported in January 2007, the switch production capacity of the Compound
Semiconductor business was aligned with the projected requirements of our
concentrated customer base. Our predominant customer has now advised us that
its requirement for switches from Filtronic will cease in September because of
their decision to in-source all production. This will result in a substantial
reduction in the level of activity for our business.
The board has therefore decided to reduce the size of the Compound Semiconductor
business accordingly. Consultations will start with affected staff over proposed
job losses involving approximately 115 people.
The board is considering a full range of possibilities for the ongoing
operation, including sale. The board reaffirms its objective of running the
Compound Semiconductor business on at least a cash neutral basis.
Contacts:
Filtronic plc
John Poulter, Chairman 01274 415 325
Charles Hindson, Chief Executive 07800 706 319 (mobile)
Filtronic website: www.filtronic.com
Parkgreen Communications Ltd 020 7479 7933
Paul McManus 07980 541 893 (mobile)
ENDS
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