ON Semiconductor Corporation (Nasdaq: ON), driving energy efficient innovations, today announced it is exploring a sale of its manufacturing facility in Niigata, Japan. The intended sale of Niigata facility is part of the company’s plan to optimize its manufacturing footprint and sharpen its focus on highly differentiated power, analog and sensor products. The company will begin searching for strategic buyers to enter into a mutually beneficial arrangement that is expected to facilitate an orderly transition of products from its facility in Niigata to other facilities in its network.
The Niigata facility is an automotive qualified facility, which meets the IATF 16949 global industry standard for quality management. The company believes that the facility is an attractive semiconductor manufacturing asset. The site is run by a highly skilled and productive workforce capable of managing a large mix of technologies.
The Niigata facility consists of two co-located wafer fabs with 215,000 square feet of clean room space, located on a 40 acre campus with 1.1 million square feet of building space. The large campus, existing infrastructure and capability of eight inch wafer manufacturing provide potential buyers a compelling growth opportunity. Currently, the facility supports the company’s BCD, BiCMOS, CMOS, Discrete and Smart Discrete technologies.
ON Semiconductor remains committed to growing its presence in Japan, and the company recently added a large eight-inch wafer fab in Aizu to its manufacturing footprint. ON Semiconductor plans to continue to invest in its various functional groups, such as field service, research and development, solution engineering centers, and manufacturing plants to better serve its customers in Japan.
About ON Semiconductor
ON Semiconductor (Nasdaq: ON) is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. The company’s products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical, aerospace and defense applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, a robust compliance and ethics program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe and the Asia Pacific regions. For more information, visit https://www.onsemi.com.
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Among these factors are our revenue and operating performance; economic conditions and markets (including current financial conditions); risks related to our ability to meet our assumptions regarding outlook for revenue and gross margin as a percentage of revenue; effects of exchange rate fluctuations; the cyclical nature of the semiconductor industry; changes in demand for our products; changes in inventories at our customers and distributors; risks associated with restructuring actions and workforce reductions; technological and product development risks; enforcement and protection of our intellectual property rights and related risks; risks related to the security of our information systems and secured network; availability of raw materials, electricity, gas, water and other supply chain uncertainties; our ability to effectively shift production to other facilities when required in order to maintain supply continuity for our customers; variable demand and the aggressive pricing environment for semiconductor products; our ability to successfully manufacture in increasing volumes on a cost-effective basis and with acceptable quality for our current products; risks associated with our acquisitions and dispositions generally, including our ability to realize the anticipated benefits of our acquisitions and dispositions, including our acquisition of Quantenna; risks that acquisitions or dispositions may disrupt our current plans and operations, (including the risk of unexpected costs, charges or expenses resulting from acquisitions or dispositions and difficulties arising from integrating and consolidating acquired businesses, our timely filing of financial information with the Securities and Exchange Commission ("SEC”) for acquired businesses and our ability to accurately predict the future financial performance of acquired businesses); competitor actions, including the adverse impact of competitor product announcements; pricing and gross profit pressures; risks associated with the addition of Huawei Technologies Co., Ltd. and its non-U.S. affiliates and subsidiaries, and other customers, to the U.S. Department of Commerce, Bureau of Industry Security Entity List; loss of key customers; risks associated with restructuring actions and workforce reductions; order cancellations or reduced bookings; changes in manufacturing yields; control of costs and expenses and realization of cost savings and synergies from restructurings; the costs to defend against or pursue litigation and the potential significant costs associated with adverse litigation outcomes; risks associated with decisions to expend cash reserves for various uses in accordance with our capital allocation policy such as debt prepayment, stock repurchases or acquisitions rather than to retain such cash for future needs; risks associated with our substantial leverage and restrictive covenants in our debt agreements that may be in place from time to time; risks associated with our worldwide operations, including changes in trade policies, foreign employment and labor matters associated with unions and collective bargaining arrangements, continuing political unrest in markets in which we do significant business, including Hong Kong, as well as man-made and/or natural disasters and public health and safety outbreaks affecting our operations or financial results, including as a result of the outbreak of the novel coronavirus disease 2019 (COVID-19) pandemic; the threat or occurrence of international armed conflict and terrorist activities both in the United States and internationally; risks of changes in U.S. or international tax rates or legislation; risks and costs associated with increased and new regulation of corporate governance and disclosure standards; risks related to new legal requirements; and risks and expenses involving environmental or other governmental regulation. Additional factors that could affect our future results or events are described under Part I, Item 1A "Risk Factors” in our 2019 Annual Report on Form 10-K filed with the SEC on February 19, 2020 (our "2019 Form 10-K") and from time to time in our other SEC reports. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information, except as may be required by law. You should carefully consider the trends, risks and uncertainties described in this document, our 2019 Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties actually occurs or continues, our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities could decline, and you could lose all or part of your investment. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement.
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Jason Goldberger
Dollar Shave ClubMichael Dubin, who founded Dollar Shave Club in 2011, is leaving the direct-to-consumer brand as its top executive.
Jason Goldberger, the CEO of kitchen retailer Sur La Table, is set to take the reigns at the Unilever-owned brand starting Jan. 19, the company told Business Insider.
Dollar Shave Club has been touted as one of the biggest direct-to-consumer success stories in personal care, challenging established players like Procter & Gamble's Gillette alongside Harry's and similar brands.
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Dollar Shave Club CEO Michael Dubin will step down later this month after roughly a decade after he founded it, the company confirmed to Business Insider.
Dubin is set to leave the direct-to-consumer razor and personal care brand on January 19. His replacement will be Jason Goldberger, who currently serves as the CEO of Sur La Table.
Read more: Razor maker Harry's CEO explains why it's on the acquisition hunt and getting into cat food after its hopes of being acquired by Schick's parent company fell through
Goldberger has led Sur La Table through a bankruptcy spurred by the pandemic in recent months. The kitchen retailer reached a deal to emerge from bankruptcy in August, though with a smaller store footprint thanks to a drop-off in foot traffic at its physical stores.
Dubin will stay on as a special advisor and member of the Unilever-owned brand's board, according to a statement. He had previously told the board about his interest in moving on from Dollar Shave Club, but only after the company had found a replacement, Sunny Jain, president of Unilever Beauty and Personal Care, said.
"Jason is a proven leader and experienced CEO who has demonstrated a strong track record leading brands and driving growth and the business is on an exciting upward trajectory," Jain said in the statement. "I couldn't be more confident in the future of Dollar Shave Club than I am right now."
"Leading DSC has been the ride of a lifetime," Dubin said. "I'm filled with gratitude for the myriad of people who have helped make this such a special place and brand, and I'm excited to stay involved."
The CEO switch comes 10 years after Dubin founded Dollar Shave Club. Under his leadership, the company started marketing razors at a fraction of the price charged by established players such as Procter & Gamble's Gillette and Edgwell's Schick. Dubin himself appeared in early ads for the company, making an appeal for its cheaper razors.
His efforts led to Dollar Shave Club's sale to Unilever, announced in 2016. Several other razor startups, from Harry's to Billie, which makes razors for women, have also tapped into the market, though neither has successfully completed a deal with a larger player.
