Dan’s Biz Bookshelf: ‘The Next RenAIssance: AI and the Expansion of Human Potential’
The Chemical Connection: When the Industry Moves Faster Than the Standards
Driving Innovation: Selecting the Right Laser Source
TTM Technologies Announces Consolidation of Manufacturing Footprint
February 9, 2023 | Globe NewswireEstimated reading time: 2 minutes
TTM Technologies, Inc., a leading global manufacturer of technology solutions including engineered systems, radio frequency (RF) components and RF microwave/microelectronic assemblies and printed circuit boards (PCBs), announced that it plans to close three manufacturing facilities in order to improve total plant utilization, operational performance, customer focus and profitability.
TTM intends to close PCB manufacturing operations in Anaheim and Santa Clara, California, and Hong Kong and to consolidate the business from these impacted sites into TTM’s remaining facilities. The plant closures are expected to improve both facility and talent utilization across our footprint resulting in improved profitability. TTM expects to continue to support impacted customers at its remaining manufacturing sites.
“Although demand for our Aerospace & Defense business remains very strong, current macro-economic conditions are causing a softening of demand for our commercial business. This has necessitated the need for us to streamline our manufacturing operations,” said Tom Edman, President and CEO of TTM Technologies. “We expect the action plans that we are announcing today will allow us to better serve our customers with more focused operations as well as a lower cost structure. We will be working with our customers to transfer their business to other facilities in our footprint,” continued Mr. Edman.
“These are extremely difficult decisions, and we realize these actions will likely have a significant impact on the lives of our dedicated employees at the Anaheim, Santa Clara, and Hong Kong locations. We will work with our employees to assist them through this transition,” concluded Mr. Edman.
TTM expects to close these three sites over the course of this year and, where appropriate, transfer employees to other facilities nearby. For those employees who do not transfer, TTM plans to offer long notice periods, severance compensation, and extended medical coverage. The company expects a total reduction of approximately 750 employees, which is approximately 5% of the global workforce in conjunction with the consolidation and resulting plant closures.
The company expects to record between $22 and $28 million in separation, asset impairment and disposal costs related to this restructuring, primarily between now and the end of 2023. Approximately 80% of these costs are expected to be in the form of cash expenditures and the rest in the form of non-cash charges. Today’s actions are expected to yield an annual operating profit increase of approximately $22 to $27 million after the facilities are closed and the transferred business is fully assimilated within our remaining footprint.
Share on:
Testimonial
"Your magazines are a great platform for people to exchange knowledge. Thank you for the work that you do."
Simon Khesin - Schmoll MaschinenSuggested Items
Hon Hai, Mitsubishi Electric Exploring Automotive Equipment Business in MOU
04/29/2026 | Hon Hai Precision Industry Co., Ltd.Hon Hai Precision Industry Co. Ltd. (Foxconn) and Mitsubishi Electric Corporation have signed a Memorandum of Understanding to explore a strategic alliance through joint operation of the automotive equipment business.
SEMIEXPO Heartland 2026 Highlights Automotive Electronics and Smart Manufacturing Innovation
04/29/2026 | SEMIThe second edition of SEMIEXPO Heartland opens this week, April 29-30 at the Detroit Marriot at the Renaissance Center in Detroit, Michigan, centered around smart manufacturing, automotive electronics, and workforce development.
Ventec Evaluates US Manufacturing Facility to Support North American Growth
04/28/2026 | Ventec International GroupVentec International Group today announced that it is evaluating the potential establishment of a manufacturing facility in the United States to support its growing North American customer base with high-performance laminate and prepreg materials.
EDADOC: Building the ‘Neural Hub’ for High-Compute Chips Within a Compact Space
04/28/2026 | ECIOEvery chip to the market must pass a stringent checkpoint before shipment known as ATE testing. Serving as the physical “neural hub” that connects test equipment worth millions of dollars with the device under test, the performance of the ATE test board directly determines the accuracy, efficiency, and final yield of chip testing. Amid the rapid rise of high-compute chips, what extreme challenges is this seemingly small circuit board facing? How is EDADOC addressing industry pain points through its one-stop “design + manufacturing” model?
American Made Advocacy: Rebuilding America’s Military Stockpiles Begins With Microelectronics
04/28/2026 | Shane Whiteside -- Column: American Made AdvocacyCurrent world events demonstrate the fragility of long-distance supply chains transiting multiple zones of conflict. The U.S. military is currently drawing down supplies of key munitions and other electronic systems at unprecedented rates.1Every one of those systems is powered by printed circuit boards. The American PCB industry has kept pace with peacetime demand for the defense industry, but will now be called upon to increase production to a wartime footing at rates not seen in decades.