Renesas restores production in its fire-hit factory
The company plans to restore lost production capacity by end-May
Stocks impacted: Renesas Electronics Corporation (6723)
The Japanese chipmaker restarted production at its fire-damaged plant on Saturday. Renesas plans to restore lost production capacity by end-May. The firm said previously it would need about 100 days to bring the factory back to full shipments. The company is also installing new fire extinguishing equipment in the factory to deal with any similar fires in the future. Renesas restarted the 300mm chip line at its Naka plant northeast of Tokyo four weeks after a fire caused by an electricity overload burned an area of 600 square meters. Of note, Renesas is one of the top providers of automotive chips, used by virtually all the top carmakers including Toyota Motor Corp., Ford Motor Co., and Nissan Motor Co. Renesas shares rose 4.3% on Monday.
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