Nam Tai's Losses Loom Large over Future Plans

摘要

Faced with following demand, Nam Tai Electronics' Wuxi facility halted production operations at the end of May due to a lack of new customer orders and after it was unsuccessful in finding a joint venture partner. By the end of July, headcount at the facility was down to 32 employees, who are working to sell the plant, the company said in August. The company, which swung to a second-quarter net loss of $31.9 million despite a 64% jump in sales, also said it plans to convert about 566,100 sq. ft. of land at its existing Shenzhen facility in Gushu into a high-end commercial complex. It also is considering selling 1.2 million sq. ft. of land in the Guangming Hi-Tech Industrial Park.