Taiwan-based printed circuit board (PCB) maker APCB expects to discontinue production in the island by the end of the year and lay off hundreds of employees, as the company shifts manufacturing to a subsidiary in mainland China.
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Production in Taiwan will cease from December 25, following three consecutive years of losses for APCB’s plants on the island amid “a weak consumer electronics industry” and “rising raw material costs”, the company said in a filing to the Taiwan Stock Exchange on Tuesday.
In a press conference on the same day, APCB chief financial officer Tsai Cheng-hung said the company will retain some personnel in research and development as well as sales in Taiwan, while all orders would be filled by its plant in Kunshan, a city in eastern Jiangsu province.
APCB’s manufacturing overhaul will involve the dismissal of around 360 employees, while roughly 50 staff will continue to work on the island, according to a report by Taiwan’s Central News Agency, which cited Tsai.
Shares of APCB in Taiwan fell almost 10 per cent on Wednesday.
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