IMI streamlines operations, closes China facility

Ayala-led Integrated Micro-Electronics Inc. (IMI) is closing down its China facility as part of efforts to reduce business costs by focusing on strategic factories.

- By ELIJAH FELICE ROSALES

In a disclosure to the Philippine Stock Exchange, IMI announced that all production works in its Chengdu hub have stopped since December 2024.

IMI said the facility completed its commitments to clients and remaining customer projects were transferred to other sites owned by the company.

Currently, IMI is working on concluding the closure process of the hub, starting with the transfer of assets and equipment, which has to be completed this month.

Afterward, the property will be turned over to the landlord in February.

Starting next month, IMI will also begin complying with local government regulations, entailing a six-month winding-up period.

Once it leaves Chengdu, the manufacturer looks to reorganize its global footprint by focusing resources on select facilities.