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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ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its website in this news release, information on the website is not to be incorporated herein.
This document contains "forward-looking statements,” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated in this document could be deemed forward-looking statements, particularly statements about the future financial performance of ON Semiconductor, including financial guidance for the year ending December 31, 2020. Forward-looking statements are often characterized by the use of words such as "believes,” "estimates,” "expects,” "projects,” "may,” "will,” "intends,” "plans” or "anticipates” or by discussions of strategy, plans or intentions. 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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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Trane Technologies plc (NYSE: TT) a global climate innovator, announced today that company leadership will participate in a virtual fireside chat at...
OAKLAND, Calif., April 28, 2021 /PRNewswire/ -- The newly launched Justice40 Accelerator will support communities on the front lines of the climate crisis in accessing federal funding flowing from President Joe Biden's historic executive order directing 40% of the benefits from government-funded climate action to disadvantaged communities. Participating organizations can share existing expertise, and qualify for capacity-building grants averaging $25,000 each. After a dialogue with potential applicants and in response to needs in the field, the accelerator will also offer project development workshops, partnership opportunities, technical expertise, and informational briefings and resources to support dozens of community-based organizations as they apply for federal funds."The Biden/Harris administration's Justice40 Initiative is an incredible opportunity to finally center communities that have suffered most from dirty energy and the effects of climate change – the same communities that can lead us through a just transition to a clean-energy economy," said Gloria Walton, CEO of the climate justice grantmaking organization The Solutions Project, which funds and amplifies community-based climate solutions."But this historic plan will work only if climate funding flows directly to those front-line communities, instead of solely to the same old organizations and businesses that already have plenty of resources and inside-the-Beltway connections," said Walton. She joined The Solutions Project's co-founder, the actor Mark Ruffalo, to announce the Justice40 Accelerator on CBS This Morning. Community-based organizations are creating innovative climate solutions across the United States, but often lack access to the resources they need to realize them fully. Most front-line climate organizations are rooted in and accountable to communities of color, which bear disproportionate burdens from climate change and dirty energy. They are historically underinvested in across both philanthropy and government funding — and the convoluted federal funding ecosystem is difficult for even the most well-resourced organizations to access. The Justice40 Accelerator aims to provide philanthropic and technical support to access federal grants and contracts, and will also serve as a navigator for front-line organizations to access the funding they deserve.
Climate justice and other community groups are working on the front lines of rising sea levels in Miami and warming temperatures in Iowa, and on the fence lines of oil sands pipelines in Minnesota and oil drilling in Los Angeles. They are bringing clean energy and safe drinking water to predominantly Black communities in the South, creating wind-energy jobs in multi-racial communities in the urban Northeast, and building efficient, affordable, solar-powered housing in Indigenous communities on the Great Plains. "Washington ideas can feel impossibly far away and inaccessible when you're working on the front lines of climate solutions," commented Lenwood Coleman, Chief Program Officer of community clean power and resilience nonprofit Groundswell. A U.S. Air Force veteran and longtime community development leader, Coleman knows the perseverance and commitment to service that it takes to make community-focused programs work for the people. "The District of Columbia is Groundswell's hometown, our team has seen it from all sides, and we're here to stand in the gap."The Justice40 Accelerator is a partnership project of the nonprofit organizations Groundswell, Elevate, the Partnership for Southern Equity, and The Solutions Project, with support from The Hummingbird Firm, drawing on decades of experience and a commitment to serving the needs of front-line organizations as these groups seek to access federal funding at this important time. The accelerator is independent of the federal government and of the Justice40 Initiative. "For ongoing guidance and support throughout the process of competing for federal funding, community organizations can team up with peer nonprofits involved in similar work so lessons can be shared in real time," said Nathaniel Smith, founder and chief equity officer of the Partnership for Southern Equity, which works for racial equity and shared prosperity in Atlanta and across the American South. "The Justice40 Accelerator aims to level the playing field – or at least tilt it in the right direction – so that front-line climate communities can access federal funding and take their place at the heart of a just transition to a clean energy economy. We hope dozens of organizations will join this initiative by participating in the accelerator and showcasing their incredible innovations for the various federal agencies looking to scale community climate solutions that work for everyone."The Biden/Harris administration's Justice40 Initiative isn't a new grant program with a clear application process. Rather, it is a target woven into existing programs across government, such as the American Jobs Plan, which includes energy, water, housing, and transportation and mass transit.
Many environmental justice and other community groups felt caught flat-footed in the face of the nation's last massive recovery program, 2009's American Recovery and Reinvestment Act (ARRA), which prioritized shovel-ready projects. "We are in a much stronger position as a movement now and have important lessons to put into practice," said Gloria Walton, who was working for a community-based organization when ARRA was passed. "In 2009, organizations, businesses, and state government agencies that routinely got federal funding already knew how to ramp up quickly, and they got most of the money. That left innovative and potentially transformative frontline climate projects out in the cold – and that can't happen this time around," said Walton. The Justice40 Accelerator is inviting front-line climate organizations and other community groups in environmental justice communities, most especially organizations led by Black, Indigenous, and other people of color to get the process started by signing up to learn more about the accelerator and attending informational webinars. Registration is at www.Justice40Accelerator.org, and additional information is available at www.thesolutionsproject.org. Elevate seeks to create a just and equitable world in which everyone has clean and affordable heat, power, and water in their homes and communities — no matter who they are or where they live. Our programs, policy agenda, and partners reflect this commitment.Groundswell builds community power to create equitable clean energy futures. A 501c3 nonprofit, Groundswell develops community solar projects and resilience hubs, helps neighbors to share power, reduces energy burdens with efficiency, and connects clean energy supply chains to local economic development - all informed by data science and pioneering research.
Partnership for Southern Equity advances policies and institutional actions that promote racial equity and shared prosperity for all in the growth of metropolitan Atlanta and the American South.The Hummingbird Firm is a community engagement consulting firm, specializing in face-to-face and digital engagement for public involvement, public participation, environmental communications, climate action, and cultural competency training. We specialize in outreach to underrepresented, underserved, and underrepresented communities.The Solutions Project is a national nonprofit organization that promotes climate justice through grantmaking and amplifying the stories of front-line community leaders in the media. The organization seeks to accelerate the transition to 100% clean energy and equitable access to healthy air, water, and soils by supporting climate justice organizations, especially those led by women of color.Media contact:Carina Danielscarina@storyandreach.com510-847-1617
View original content:https://www.prnewswire.com/news-releases/justice40-accelerator-will-serve-front-line-communities-applying-for-federal-funds-flowing-from-bidenharris-administrations-historic-40-climate-justice-commitment-301279330.htmlSOURCE The Solutions Project