Integrated Micro-Electronics Inc. (IMI), one of the leading worldwide providers of electronics manufacturing services (EMS) in the world owned by Ayala Corp., said it is restructuring its global operations to improve profitability and efficiency.
IMI said in a disclosure to the stock exchange Tuesday it would close its prototyping and manufacturing activities in IMI USA by end of the year. It will also dissolve its offices in Japan and Malaysia and will also downsize its office in Singapore.
The company said IMI USA would enter into a pivotal partnership with XLR8 Corp., a California-based firm renowned for its prototyping expertise. Under the new agreement, IMI will channel prototyping needs of selected customers to XLR8, while XLR8 will transition mass production projects to IMI as its preferred manufacturing partner.
IMI USA will also be moving mass production to IMI’s facilities in North America, Europe and Asia.
“IMI’s extensive sales team, strategically positioned across various regions, will continue to address opportunities in Japan, eliminating the need for a physical office and reducing overhead costs,” the company said.
The restructuring comes as the global electronics manufacturing services (EMS) industry continue to face a slowdown.
IMI is a top provider of electronics manufacturing solutions. It specializes in high-quality electronics for industries with long product life cycles. IMI operates 19 manufacturing plants in nine countries and provides engineering and support services worldwide.
From its 19 manufacturing plants across nine different countries, the company provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.
IMI reduced its net loss in the first half of 2024 to $8.8 million from $83.66 million in the same period last year on strategic moves it implemented to improve its operations.
