Kulicke & Soffa Industries (KLIC) said Monday its board decided to wind down the company's electronics assembly equipment business.
The division is being shut down in favor of prioritizing the company's core semiconductor assembly business and will result in $86 million to $100 million in pre-tax charges, including impairments.
The company said it would consult with relevant works council and union representatives on the cessation of the business starting in Q3. Kulicke & Soffa expects to complete the closure of the business in H1 next year.
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