Panasonic to sell S-E Asia chip assembly plants to Singapore's Utac

TOKYO (REUTERS) - Panasonic will sell its chip assembly plants in South-east Asia to a unit of Singapore's Utac Holdings as it moves into the final stages of a sweeping restructuring to unload unprofitable operations.

The company gave no financial details of the deal to offload three chip assembly units operating plants in Indonesia, Malaysia and Singapore.

The move follows closely on the heels of the transfer of its chipmaking facilities in Japan to a joint venture majority-owned by Israeli chipmaker TowerJazz Semiconductor.

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