Photronics Closes Shanghai Facility

Photronics, a supplier of imaging technology solutions located in Brookfield, Conn., announced it is closing its integrated circuit photomask manufacturing facility in Shanghai, China, in an effort to reduce costs. While the closure is expected to cost between $10 million and $14 million, the company expects to the move to save about $5 million a year. Photronics also estimates that 75 employees will be affected by the closure. Due to the ability to service customers from its other locations, the company expects minimal, if any, revenue impact. After the closure, Photronics will have nine global manufacturing facilities, with four located within Asia (one in Korea, one in Singapore, and two in Taiwan).