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2016/Jul Seagate confirms closure of manufacturing facilities in Malaysia

GEORGE TOWN: US-based disk drive maker Seagate Technology has confirmed the closure of its manufacturing facilities in Malaysia. This confirms a Business Times report earlier today that the company is ceasing its manufacturing operations in Penang and Negeri Sembilan. "Earlier this week, Seagate filed a Form 8-K describing its commitment to the next phase of the global footprint consolidation and restructuring plan as part of the company’s previously announced efforts to reduce its cost structure," the company said in a statement. Seagate, it noted, is responding to hard disk drive (HDD) demand levels that reflect a weak macroeconomic environment and accelerating usage shifts of technologies and architectures. "Given the current conditions, Seagate’s path forward requires a more efficient manufacturing footprint and highly optimized product portfolio."


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