Qorvo,watch Lady Chatterley's Daughter (2011) a US manufacturer of semiconductors and radio-frequency (RF) solutions, announced on Monday that it has reached an agreement to sell its assembly and test facilities located in Beijing and Dezhou, China, to Luxshare Precision Industry, a Chinese contract manufacturer. The companies expect to complete the transaction by the first half of 2024, pending regulatory approvals and the fulfillment or waiver of other closing conditions. Upon closing, Luxshare will take over the operations and assets of each facility, including property, plant, equipment, and the existing workforce, while Qorvo will retain its sales, engineering, and customer support in China to continue serving its customers. Luxshare will be responsible for assembling and testing products for Qorvo under a newly established long-term supply agreement, according to Qorvo’s statement. [Qorvo]
