News

Fires

Kimberly Redmond | Equities.com |

Renesas Electronics Corporation, a key automotive semiconductor supplier, said one of its plants in northeastern Japan damaged by a fire in March will be running at full capacity by the end of May.

On Monday, Renesas said it restarted partial production over the weekend at the Naka plant and will gradually ramp back up to 100% output by the end of May and should reach its previous shipping volumes by early July.


Reuters | Equities.com |

A recent fire at a Japanese semiconductor factory and severe weather in parts of the United States in February have exacerbated an ongoing chip shortage plaguing the global auto industry, data firm IHS Markit said on Wednesday.

IHS said it now expects disruptions to the production of nearly 1.3 million global light vehicles, up from a prior forecast of 1 million in the first quarter.


Kimberly Redmond | Equities.com |

Renesas Electronics Corporation (OTC US: RNECY) said damage from a recent fire at one of its chipmaking plants in northeast Japan is more extensive than initially reported.

Following the March 19 fire at the Naka plant, the company said 11 machines – about 2% of its manufacturing equipment – were destroyed, but on Monday the Nikkei reported the number of inoperable machines is now believed to be around 17.